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SSC CGL Previous Year Questions: Economics - 2 - SSC CGL MCQ


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30 Questions MCQ Test SSC CGL Previous Year Papers - SSC CGL Previous Year Questions: Economics - 2

SSC CGL Previous Year Questions: Economics - 2 for SSC CGL 2024 is part of SSC CGL Previous Year Papers preparation. The SSC CGL Previous Year Questions: Economics - 2 questions and answers have been prepared according to the SSC CGL exam syllabus.The SSC CGL Previous Year Questions: Economics - 2 MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for SSC CGL Previous Year Questions: Economics - 2 below.
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SSC CGL Previous Year Questions: Economics - 2 - Question 1

The state with largest gap in male and female literacy is :    (SSC MTS 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 1

Rajasthan is the state with largest gap in male and female literacy.

SSC CGL Previous Year Questions: Economics - 2 - Question 2

Area which supports the economy and export trade of a sea port is called its:    (SSC MTS 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 2

Export Basin is the area which supports the economy and export trade of a sea port.

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SSC CGL Previous Year Questions: Economics - 2 - Question 3

Which one of the following statement is True regarding rate of interest:    (SSC MTS 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 3

Rate of Interest may be zero is true regarding rate of interest.

SSC CGL Previous Year Questions: Economics - 2 - Question 4

Which of the following is the not a small-scale industry in India?   (SSC Steno. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 4

The Petroleum Industry is not a small scale Industry. Small scale Enterprise is one in which the investment in plant and macniroy is between ₹ 25 Lakhs to ₹10 crores.

SSC CGL Previous Year Questions: Economics - 2 - Question 5

What is the accepted average Calorie requirement for rural area in India?    (SSC CGL 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 5

The accepted average calorie requirement in India is 2400 calories per person per day in rural areas and 2100 calories per person per day in rural area.

SSC CGL Previous Year Questions: Economics - 2 - Question 6

Which of the following is not true about a Demand Draft?    (SSC CGL 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 6

The Demand Draft is a pre-paid Negotiable Instrument, wherein the drawee bank undertakes to make payment in full when the instrument is presented by the payee for payment. So it may not be dishonored for lack of funds.

SSC CGL Previous Year Questions: Economics - 2 - Question 7

Which among the following is an example of micro – economic variable? (SSC CGL 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 7

Microeconomics is the study of the behaviour of the individual units (like an individual firm or an individual consumer) of the economy. Consumer’s Equilibrium is the example of microeconomic variable.

SSC CGL Previous Year Questions: Economics - 2 - Question 8

What is the full form of FDI?    (SSC Sub. Ins. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 8

FDI full form is Foreign Direct Investment

SSC CGL Previous Year Questions: Economics - 2 - Question 9

Banking comes under which of the following sector?    (SSC Sub. Ins. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 9

Banking sector is a services sector. Therefore, it comes under Tertiary sector.

SSC CGL Previous Year Questions: Economics - 2 - Question 10

What was the main objective of the 5th Five Year Plan? (SSC Sub. Ins. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 10

The Fifth Five–year Plan (1974–1978) laid emphasis on employment, poverty and achievement of self reliance.

SSC CGL Previous Year Questions: Economics - 2 - Question 11

The law of demand states that when : (SSC MTS 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 11

In microeconomics, the law of demand states that, “Other things being equal, as the price of a good increases its demand decreases and vice versa.”

SSC CGL Previous Year Questions: Economics - 2 - Question 12

In an inflationary situation, which of the following statements is false for a country? (SSC MTS 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 12

In an inflationary Situation, country’s export’s declines as the goods which were cheaply available earlier now becomes expensive.

SSC CGL Previous Year Questions: Economics - 2 - Question 13

What is GST? (SSC Steno. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 13

Goods and Services Tax is an indirect tax which was introduced in India on 1 July 2017 and was applicaple throughout India, which replaced multiple cascading taxes levied by the central and state governments.

SSC CGL Previous Year Questions: Economics - 2 - Question 14

Which of the following is known as market clearing price? (SSC Steno. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 14

Equilibrium Price is the market price where the quanti by of goods supplied is equal to the quantity of goods demanded. It is also known as market clearing Price.

SSC CGL Previous Year Questions: Economics - 2 - Question 15

CENVAT is related to which of the following ?   (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 15

CENVAT or Central Value Added Tax is a modification of the previously functioning MODVAT (Modified Value Added Tax), and is a part of the central excise framework of the country

SSC CGL Previous Year Questions: Economics - 2 - Question 16

Malthusian theory is associated with which of the following ? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 16

The Malthusian theory explained that the population grows. The theory was proposed by Thomas Robert Malthus. He believed that a balance between population growth and food supply can be established through preventive and positive checks

SSC CGL Previous Year Questions: Economics - 2 - Question 17

Which is the parameter for the economic development ? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 17

National Income is the parameter for the economic development. National Income refers to the money value of all the goods and services produced in a country during a financial year.

SSC CGL Previous Year Questions: Economics - 2 - Question 18

A ‘Market Economy’ is one which (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 18

A market economy is an economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's individual citizens and businesses.

SSC CGL Previous Year Questions: Economics - 2 - Question 19

Regional Rural Banks are sponsored by    (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 19

Regional Rural Banks are sponsored by Nationalized Rural Banks. They have been created with a view of serving primarily the rural areas of India with basic banking and financial services.

SSC CGL Previous Year Questions: Economics - 2 - Question 20

Who is the Chief Economic Advisor to the Government of India? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 20

Arvind Subramanian is the current Chief Economic Adviser to the Government of India, having taken charge of the position on 16 October 2014 succeeding RaghuramRajan.

SSC CGL Previous Year Questions: Economics - 2 - Question 21

Which type of foreign investment is considered as unsafe? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 21

The Foreign Direct Investment (FDI) refers to the direct investment into the production and management. Any investment in India which has its source any other country than India is Foreign Investment. FDI is a type of Foreign Investment which is considered as unsafe

SSC CGL Previous Year Questions: Economics - 2 - Question 22

Which one of the following is not an instrument of Fiscal policy? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 22

The major instruments of fiscal policy are as follows: A. Budget B. Taxation C. Public Expenditure D. Public Works E. Public Debt.

SSC CGL Previous Year Questions: Economics - 2 - Question 23

In which of the following market forms, a firm does not exercise control over price? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 23

Perfect competition is a market structure that leads to the Pareto-efficient allocation of economic resources. Perfect competition also referred to as a pure competition, exists when there is no direct competition between the rivals and all sell identically the same products at a single price.

SSC CGL Previous Year Questions: Economics - 2 - Question 24

What is the name of portal launched by RBI recently to check illegal money collection? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 24

The Reserve Bank of India (RBI) Governor, RaghuramRajan, on 4 August 2016 launched Sachet portal, sachet.rbi.org.in, tocheck illegal money collection

SSC CGL Previous Year Questions: Economics - 2 - Question 25

Fiscal policy in India is formulated by? (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 25

In India, Fiscal Policy is formulated by the Ministry of Finance. Fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure (spending) to influence a country's economy. Fiscal policy also feeds into economic trends and influences monetary policy. When the government receives more than it spends, it has a surplus. Some of the major instruments of fiscal policy are as follows: Budget, Taxation, Public Expenditure, public revenue, Public Debt.

SSC CGL Previous Year Questions: Economics - 2 - Question 26

Basic problems of an economy is/are (SSC Sub. Ins. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 26

Basic problems of an economy is/are decide as to what, how and for whom to produce.

SSC CGL Previous Year Questions: Economics - 2 - Question 27

Demand curve is indeterminate under (SSC Sub. Ins. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 27

Oligopoly is the market organization in which there are a few or small number of firms in an industry and they produce the major share of the market. Demand curve is indeterminate under oligopoly. Under oligopoly, every organization keeps an eye on the actions of rivals and makes strategies accordingly

SSC CGL Previous Year Questions: Economics - 2 - Question 28

Marginal Revenue is     (SSC Sub. Ins. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 28

Marginal revenue (MR) is the additional revenue that will be generated by increasing product sales by one unit. Marginal revenue is calculated by dividing the change in total revenue by the change in production output quantity or the change in quantity sold

SSC CGL Previous Year Questions: Economics - 2 - Question 29

Who fixes the REPO rate in India ?    (SSC Stenographer 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 29

Repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) lends money to commercial banks in the event of any shortfall of funds. Repo rate is used by monetary authorities to control inflation. Reserve Bank of India fixes the REPO rate in India.

SSC CGL Previous Year Questions: Economics - 2 - Question 30

An indirect instrument of monetary policy is (SSC Stenographer 2016)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 2 - Question 30

The indirect instruments of monetary policy generally operate through repurchase (repos) and outright transactions in government securities (open market operations).

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