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SSC CGL Previous Year Questions: Economics - 4 - SSC CGL MCQ


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30 Questions MCQ Test SSC CGL Previous Year Papers - SSC CGL Previous Year Questions: Economics - 4

SSC CGL Previous Year Questions: Economics - 4 for SSC CGL 2024 is part of SSC CGL Previous Year Papers preparation. The SSC CGL Previous Year Questions: Economics - 4 questions and answers have been prepared according to the SSC CGL exam syllabus.The SSC CGL Previous Year Questions: Economics - 4 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 - 4 below.
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SSC CGL Previous Year Questions: Economics - 4 - Question 1

Which of the following is the Regulator of the credit rating agencies in India?     (SSC CGL 1st Sit. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 1

The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established in the year 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992.

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

Which is the first Indian Company to be listed in NASDAQ?     (SSC CGL 1st Sit. 2014)

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

Infosys Ltd is an Indian multinational corporation that provides business consulting, information technology, software engineering and outsourcing services. It is headquartered in Bangalore, Karnataka.

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SSC CGL Previous Year Questions: Economics - 4 - Question 3

RRBs are owned by (SSC CGL 1st Sit. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 3

Regional rural Banks (RRB) were established under the provisions of an ordinance passed on 26th September, 1975 and RRB Act1976, to provide sufficient banking and credit facility for agriculture and other rural sectors. The RRBs were owned by the Central Govt., the State Government and the Sponsor Banks.

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

The Monetary and Credit Policy is announced by which of the following?     (SSC CGL 1st Sit. 2014)

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

The Reserve Bank of India is India's Central Banking Institution, which controls the Monetary Policy of the Indian Rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934.

SSC CGL Previous Year Questions: Economics - 4 - Question 5

Which of the following method is not used in determining National Income of a country? (SSC CGL 1st Sit. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 5

The national income of a country can be measured by three alternative methods: (i) Product Method (ii) Income Method, and (iii) Expenditure Method.

SSC CGL Previous Year Questions: Economics - 4 - Question 6

Which of the following is not an economic problem ?     (SSC CHSL 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 6

Deciding between different ways of spending leisure time is not an economic problem.

SSC CGL Previous Year Questions: Economics - 4 - Question 7

What does the letter 'e' denotes in the term 'e-banking'? (SSC CGL 1st Sit. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 7

For many people, electronic banking means 24-hour access to cash through an automated teller machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking involves many different types of transactions, rights, responsibilities - and sometimes, fees. A method of banking in which the customer conducts transactions electronically via the Internet.

SSC CGL Previous Year Questions: Economics - 4 - Question 8

Which of the following occurs when labour productivity rises ?    (SSC CHSL 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 8

When labour productivity rises, the labour demand curve shifts to the right. As the productivity increases, the production function shifts up and simultaneously the labour demand curve shifts out and right. At a given real wage, more workers are hired and output increases.

SSC CGL Previous Year Questions: Economics - 4 - Question 9

Which of the following are consumer semi-durable goods ?    (SSC CHSL 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 9

Semi durable consumer goods are products with durability of about one year. E.g., food grains and food products.

SSC CGL Previous Year Questions: Economics - 4 - Question 10

Which of the following statements is correct ?    (SSC CHSL 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 10

Economic rent is the difference between the market wage and the reservation wage.

SSC CGL Previous Year Questions: Economics - 4 - Question 11

Other things being equal, a decrease in quantity demanded of a commodity can be caused by (SSC CHSL 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 11

Other things being equal, a decrease in quantity demanded of a commodity can be caused by a rise in the price of the commodity.

SSC CGL Previous Year Questions: Economics - 4 - Question 12

A portion of an individual's total income is spent on consumption. The remaining part is called (SSC Multitasking 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 12

If a portion of individuals income is spent on consumption, the remaining portion will be saving. Since whatever is not consumed must be saved, as soon as we specify a consumption function we have necessarily specified a savings function. "Function" just means that one thing depends on another thing or things.

SSC CGL Previous Year Questions: Economics - 4 - Question 13

Phase of increasing returns is otherwise called    (SSC Multitasking 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 13

Phase of increasing returns is otherwise called decreasing revenue. If output increases by more than that proportional change in inputs, there are increasing returns to scale (IRS).

SSC CGL Previous Year Questions: Economics - 4 - Question 14

Monopoly refers to   (SSC Multitasking 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 14

A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods.

SSC CGL Previous Year Questions: Economics - 4 - Question 15

Primary sector of an economy includes   (SSC Multitasking 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 15

The primary sector of the economy is the sector of an economy making direct use of natural resources. This includes agriculture, forestry, fishing and mining. This is contrasted with the secondary sector, producing manufactured goods, and the tertiary sector, producing services.

SSC CGL Previous Year Questions: Economics - 4 - Question 16

Liquidity preference theory of interest is propounded by     (SSC Multitasking 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 16

J.M. Keynes propounded what has come to be known as the liquidity preference theory of interest. According to this theory, the rate of interest is determined by the demand for and supply of money.

SSC CGL Previous Year Questions: Economics - 4 - Question 17

In the balance of payments account, unrequited receipts and payments are also regarded as (SSC Sub. Ins. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 17

In the balance of payment accounts, unrequited payments or receipts (gifts) are regarded as unilateral transfers. In the balance-of-payments statement of a country, the accounts that show the amount of money sent or received as gifts.

SSC CGL Previous Year Questions: Economics - 4 - Question 18

Price and output are determinates in market structure other than (SSC Sub. Ins. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 18

Price, output and perfect competition are the determinants of market structure. The demand curve of an individual firm under a purely competitive industry is perfectly elastic. This is the increase or decrease of the output of a single seller has no effect on the total supply and market place

SSC CGL Previous Year Questions: Economics - 4 - Question 19

If average cost falls, marginal cost     (SSC Sub. Ins. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 19

Marginal cost and average cost curves are related. If average costs falls, marginal cost falls at the same rate.

SSC CGL Previous Year Questions: Economics - 4 - Question 20

Which one of the following disburses long term loans to private industry in India ? (SSC Sub. Ins. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 20

Land development bank (LDB) disburses long term loans to private industry in India.The main objective of the LDB is to promote the development of land, agriculture and increase the agricultural production. The LDB provides long-term finance to members directly through its branches

SSC CGL Previous Year Questions: Economics - 4 - Question 21

Devaluation means    (SSC Stenographer 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 21

Devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket.

SSC CGL Previous Year Questions: Economics - 4 - Question 22

Disguised unemployment means (SSC Stenographer 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 22

Disguised unemployment refers to a situation where labour that is employed in a job is not actually utilised for the production of goods and services. Sometimes disguised unemployment could simply be a form of underemployment wherein the skills of a labour force are not utilised to their full capacity.

SSC CGL Previous Year Questions: Economics - 4 - Question 23

The '3 B 's' - brokers, bankers and businessmen were responsible for    (SSC Stenographer 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 23

The "3B's"- brokers, Bankers and businessmen were responsible for the great depression

SSC CGL Previous Year Questions: Economics - 4 - Question 24

ATM means (SSC Stenographer 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 24

An automated teller machine (ATM) is an electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller.

SSC CGL Previous Year Questions: Economics - 4 - Question 25

Which market forms allow free entry and exit of firms?     (SSC Stenographer 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 25

Market structure or Market form describes the state of a market with respect to competition. There are five forms of market structure and they are as follows: Perfect Competition, Monopoly Market, Duopoly, Oligopoly, and Monopolistic Competition.

SSC CGL Previous Year Questions: Economics - 4 - Question 26

GNP differs from NNP due to (SSC Stenographer 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 26

GNP differs from NNP due to Depreciation

SSC CGL Previous Year Questions: Economics - 4 - Question 27

Which one of the following is an example of joint supply?     (SSC Stenographer 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 27

joint supply is an economic term referring to a product or process that can yield two or more outputs. Common examples occur within the livestock industry: cows can be utilized for milk, beef and hide; sheep can be utilized for meat, wool and sheepskin. If the supply of cows increases, so will the supply of dairy and beef products

SSC CGL Previous Year Questions: Economics - 4 - Question 28

A philosophy that the worker should share in industrial decisions is termed as    (SSC Sub. Ins. 2014)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 28

Industrial democracy is an arrangement which involves workers making decisions, sharing responsibility and authority in the workplace

SSC CGL Previous Year Questions: Economics - 4 - Question 29

Externality theory is the basic theory of the following branch of Economics :    (SSC CGL 1st Sit. 2013)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 29

An externality is a consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative. Pollution emitted by a factory that spoils the surrounding environment and affects the health of nearby residents is an example of a negative externality. The effect of a well-educated labor force on the productivity of a company is an example of a positive externality

SSC CGL Previous Year Questions: Economics - 4 - Question 30

Diamonds are priced higher than water because :     (SSC CGL 1st Sit. 2013)

Detailed Solution for SSC CGL Previous Year Questions: Economics - 4 - Question 30

Diamonds is priced higher than water because their marginal utility to buyers is higher than that of water.

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