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Online Economics Quiz Set No - 2

Economics questions have been taken from previous years question papers of different competitive examinations such SSC CGL, SSC CHSL, CDS, NDA, Bank, State PSC, Railways, MAT, CAT, etc.

11) A rolling plan was a plan for:
A) one year
B) three years
C) five years
D) four years

12) A Scheduled Bank is one which is included in the:
A) II Schedule of Banking Regulation Act
B) II Schedule of Constitution
C) II Schedule of Reserve Bank of India Act
D) None of these

13) A steady increase in the general level of prices as a result of excessive increase in aggregate demand as compared to aggregate supply is termed as :
A) demand-pull inflation
B) cost-push inflation
C) stagflation
D) structural inflation

14) A very rapid growth in prices in which money loses its value to the point where even barter may be preferable is known as:
A) inflation
B) hyper-inflation
C) deflation
D) disinflation

15) Absolute Poverty means:
A) poverty in terms of absolute number of people
B) poverty in terms of the basic minimum calorie requirements
C) poverty in terms of the prevailing price level
D) poverty in terms of the absolute level of unemployment

16) According to the law of demand, when Price?
A) Decreases, demand decreases
B) Decreases, demand does not change
C) Increases, demand decreases
D) Increases, demand increases

17) Among the reasons for disguised unemployment in the rural areas is :
A) choice of a heavy industry model for economic development
B) low levels of technological development in the country
C) heavy pressure of population along with slow implementation of land reforms
D) high illiteracy rate

18) Among the remedies of inflation we cannot include:
A) better capacity utilisation
B) lowering bank rate
C) reducing budgetary deficit
D) an efficient public distribution system

19) Amongst the currency quotes USD/JPY, USD/Euro and USD/CAD, which one of the following is referred as the base currency for quotes?
A) US $
B) JPY
C) Euro
D) CAD

20) An ad valorem duty is a tax on the basis of?
A) The unit of the commodity
B) The advertisement expenditure
C) The price of a commodity
D) None of these