Target SSC CGL | 10,000+ Questions | Economics Questions For SSC CGL : Day 58

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. Cheap money means?
(a) Low rate of interest.
(b) Low level of savings.
(c) Low level Income.
(d) Excess of black money.

Q2. Who benefits the most during the inflationary period?
(a)corporate servants.
(b) creditors.
(c) Entrepreneurs.
(d) Government servants.

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. The sum total of incomes received for the services of labour, land, or capital in a country is called?
(a) Gross domestic product.
(b) Gross domestic income.
(C) National income.
(d) Gross national income.

Q5. The relationship between the rate of interest and the level of consumption was first visualized by?
(a) Amartya K.sen.
(b) Milton Friedman.
(C) Irving fisher.
(d) James Duesenberry.

Q6. What is the current minimum saving deposit rate in india?
(a) 6% p.a.
(b) 6.25% p.a.
(c) 4% p.a.
(d) 4.5% p.a.

Q7. A camera in the hands of a professional photographer is a ______ good?
(a) Free.
(b) Intermediary.
(c) Consumer.
(d) Capital.

Q8. The goods which people consume more , when their price rises are called?
(a) Essential goods.
(b) Capital goods.
(c) Veblen goods.
(d) Giffen goods.

Q9. Special economic zone concept was first introduced in?
(a) China.
(b) japan.
(c) India.
(d) pakistan.

Q10. The census of Indian agriculture is done by?
(a) Production method.
(b) Income method.
(C) Expenditure method.
(d) Consumption method.

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Solutions
S1. (a)
Sol-
• Cheap money means easy availability of money that means increase in supply of money that can be done through the low rate of interest.
S2. (C)
• Inflation affects the nature of wealth distribution.
• Entrepreneur gain more than fixed cost in production during inflation due to the increase in price.
S3. (a)
• Professional tax is tax levied by State government on all persons who practice any profession.
S4. (b)
• The sum total of income received for service’s of labour , land , or capital in country is called as gross domestic income.
• It is considered equal to GDP.
S5. (C)
• Irving fisher an economist was first to visualize the relationship between the rate of interest and the level of consumption.
S6.(c)
• 4% p.a. is the current minimum saving deposit rate in india.
S7. (b)
• Intermediary goods are input goods for further production.
• These goods are sold in industries for resale or production of other goods.
S8.(d)
• Giffen goods are those goods whose demand increases with increase in their price.
S9. (a)
• China first introduced the concept of special economic zone in 1980.
S10. (a)
• The method used in census of Indian agriculture is production method , in which data of land’s are collected which is wholly or partially used under agricultural production.

 

 

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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