Target SSC CGL | 10,000+ Questions | Economics Questions For SSC CGL : Day 40

Dear aspirants,

This is the new year with new goals, new experiences and lots of exams to be scheduled soon. SSC CGL has recently released the exam dates so now it is time to gear up your preparations and try hard to get the success. ADDA247 never fails to deliver something new and fruitful for you all. This time also we are providing you the best study plan as well as a study material. We are here going to prepare your General Awareness section for the SSC CGL. In this article, we are providing you the details that how we are going to help you to clear the examination this year. We ADDA247 is going to provide you daily tests for all the subjects. The topic-wise quiz will be done from January till April. This will help you to get a deeper knowledge of all the topics and will prepare you thoroughly.

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Q1. Which of the following is deducted from NNP to arrive at NI?
(a) Indirect tax.
(b) capital consumption allowance.
(c) subsidy.
(d) interest.

Q2. When too much money is chasing to few goods , the situation is?
(a) Deflation.
(b) Inflation.
(c) Recession.
(d) Stagflation.

Q3. Taxes on professions can be levied by?
(a) State government only.
(b) Both by State government and union government.
(c) By panchayats only.
(d) union government only.

Q4. Who had estimated national income in India first?
(a) V.K.R.V. Rao.
(b) Dadabhai Naoroji.
(C) R.C.Dutt .
(d) D.R. Gadgil.

Q5.which of the following group’s suffer the most from inflation?
(a) Debtor’s.
(b) creditor’s.
(C) Business Class.
(d) Holders of real assets.

Q6. The planning commission of India was constituted in the year?
(a)1942.
(b) 1947.
(c) 1950.
(d) 1955.

Q7. Which five year plan duration was only four year?
(a) Third.
(b) Fourth .
(c) fifth.
(d) seventh.

Q8. ISI Mark is not given to which of the following products?
(a) Electric goods.
(b) Hosiery goods.
(c) Biscuits.
(d) Cloth.

Q9. The planning commission of India was constituted in the year?
(a) 1942.
(b) 1947.
(c) 1950.
(d) 1955.

Q10. In Indian agriculture High yielding variety programme was started in?
(a) 1968.
(b) 1967.
(C) 1966.
(d) 1965.

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Solutions
S1. (a)
Sol-
• National income in economics term can be defined as NET national product+ subsidy-indirect taxes.

S2. (b)
• Inflation is general rise in price level of commodity.
• In other words , it means due to increase in money supply , rise in price level. That means too much money chasing few goods.

S3. (a)
• Professional tax is tax levied by State government on all persons who practice any profession.

S4. (b)
• Dadabhai Naoroji estimated national income in India for the first time in 1876. Mainly calculation was done by estimating the value of agricultural and non- agricultural production.

S5. (b)
Inflation devalues currency so it helps borrower to pay less than value of money he has borrowed.
• Devaluation of money affect creditors badly because the money received back will be of less value.

S6.(c)
• Planning commission was constituted in 1950 by a resolution passed by government of India.
• It has been replaced by NITI Ayog in 2014.

S7. (C)
• The duration of fifth five year plan was four year’s. It was terminated by Junta government and after the end of year introduced rolling plan for 1978-79.

S8. (C) ISI stands for Indian standard institute , a body set-up to create standards and maintaining quality in industrial production.
• There are 16 broad categories including textiles , packaged water , food , automobiles components and electronics..

S9. (C)
• Planning commission was constituted in 1950 by s resolution passed by government of India.
It has been replaced by NITI Ayog in 2014.

S10. (C)
• 1966-1967.

In the last month i.e. in May daily we will provide you with a test of the previous years’ question papers, this will increase your confidence of solving the real exam and will make you familiar with the real-time exam.

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