Economics Questions (MCQs) for Competitive Examinations

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Economics Questions (MCQs) for Competitive Examinations

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Today we are sharing an important pdf in hindi Economics Questions (MCQs) for Competitive Examinations दोस्तो आज की इस पोस्ट के माध्यम से हम आपको भारतीय अर्थव्यवस्था से संबंधित शब्दावलियां एवं अवधारणाऐं से संबंधित PDF को हिन्दी में उपलब्ध कराऐंगे ! जो कि आपको सभी तरह की प्रतियोगी परीक्षाओं के लिये बहुत उपयोगी सिद्द होंगी ! इस PDF को मेरे द्वारा तैयार किया गया है ! जिसको आप नीचे दी हुई लिंक के माध्यम से Download कर सकते हैं !दोस्तो आज की इस पोस्ट के माध्यम से हम आपको भारतीय अर्थव्यवस्था से संबंधित शब्दावलियां एवं अवधारणाऐं से संबंधित PDF को हिन्दी में उपलब्ध कराऐंगे ! जो कि आपको सभी तरह की प्रतियोगी परीक्षाओं के लिये बहुत उपयोगी सिद्द होंगी ! इस PDF को मेरे द्वारा तैयार किया गया है ! जिसको आप नीचे दी हुई लिंक के माध्यम से Download कर सकते हैं !

दोस्तो आज की इस पोस्ट के माध्यम से हम आपको Economics Questions (MCQs) for Competitive Examinations की एक महत्वपूर्ण PDF को हिंदी में उपलब्ध कराऐंगे ! जो कि आपको IBPS, SSC, RRB व अन्य सभी तरह की प्रतियोगी परीक्षाओं के लिये बहुत उपयोगी सिद्द होंगी !

Economics Questions (MCQs) for Competitive Examinations जो कि आपको आने बाले सभी प्रकार के Competitive Exams में काम आयेंगी ! अभी हमारे पास भारतीय अर्थव्यवस्था ( Indian Economics ) बिषय से सन्बन्धित जितनी PDF हैं वो इस पोस्ट मे हम आपको उपलब्ध करा रहे है ! और आगे जितनी भी भारतीय अर्थव्यवस्था ( Indian Economics ) बिषय से सन्बन्धित PDF हमारे पास आयेंगी उनकी लिन्क भी इसी पोस्ट में Add की जायेगी , सो आप सभी से Request है कि आप इस पोस्ट को अपने Browser के BOOKMARK में Save कर लीजिये , और Check करते रहियेगा !

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Economics Questions

Q1.Which among the following is considered to be the main determinant of the level of activity is in national income terms?

[A] The level of taxation

[B] Realized investment

[C] Planned saving

[D] Factor mobility

Correct Answer: B [Realized investment]

Notes:

Realized Investment means an Investment resulting in a sale, transfer or restructuring of a good or service. It is considered to be the main determinant of the level of activity in national income.

Q2.Which among the following imposes a greater burden (relative to resources) on the poor than on the rich ?

[A] Progressive tax

[B] Regressive Tax

[C] Lump Sum tax

[D] Proportional tax

Correct Answer: B [Regressive Tax]

Notes:

A regressive tax is the one in which tax rate decreases as the amount subject to taxation increases; and the tax rate progresses from high to low. The lowest amount is subject to higher taxation and this leads to individuals with low income bear the highest burden of regressive taxes. Such tax does not take into account the ability to pay.

Q3.Which among the following phrases generally denotes National Income?

[A] Gross National Product at Market Prices

[B] Net National Product at Market Prices

[C] Gross National Product at Factor Cost

[D] Net National Product at Factor Cost

Correct Answer: D [Net National Product at Factor Cost]

Notes:

Net National Product at Factor Cost generally denotes National Income.

Q4.In context with the macroeconomics , Philips Curve is a relationship between the rates of ___?

[A] Unemployment & Exim trade

[B] Unemployment and Inflation

[C] Unemployment and Demand

[D] Unemployment and Poverty

Correct Answer: B [Unemployment and Inflation]

Notes:

Phillips curve developed by A. W. Phillips says that the inflation and unemployment have a stable and inverse relationship; which means that higher inflation is associated with lower unemployment and vice versa. However, later it was proved that this curve is applicable only in the short-run, and in long-run, inflationary policies would not decrease unemployment.

Q5.Which among the following does not come under Land Resources:

[A] Fertility of Land

[B] Location of Land

[C] Composition of Land

[D] all of the above are land resources

Correct Answer: D [all of the above are land resources]

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Q6.A monopolist will be able to maximize his profits when _________?

[A] His output is maximum

[B] He charges a Higher price

[C] His average cost is minimum

[D] His marginal cost is equal to the marginal revenue

Correct Answer: D [His marginal cost is equal to the marginal revenue]

Notes:

A monopolist is able to maximize his profits when his marginal cost is equal to marginal revenue. The profit-maximizing choice for the monopoly will be to produce at the quantity where marginal revenue is equal to marginal cost: that is, MR = MC.

Economics Questions

Q7.In economy, which among the following can be measured by calculating concentration ratios?

[A] Devlopment

[B] Inflation

[C] Competition

[D] Social Security

Correct Answer: C [Competition]

Notes:

Competition is generally measured by calculating concentration ratios. Concentration ratios indicate whether an industry consists of a few large firms or many small firms. Two of the most commonly used metrics are the Herfindahl Hirschman Index (HHI) and the N-firm concentration ratio.

Q8.A Goldilocks economy is represented by __:

[A] Low Inflation , High Economic Growth

[B] High Inflation, Low Economic Growth

[C] Low Inflation, Steady economic growth

[D] High Inflation, High Economic Growth

Correct Answer: C [ Low Inflation, Steady economic growth ]

Notes:

A colloquial term for an economy that combines low inflation with steady economic growth

Q9.Per Capita Income of a country is obtained by dividing National Income by which of the following?

[A] Total working population

[B] Total population of the country

[C] Area of the country

[D] Volume of the capital used

Correct Answer: B [ Total population of the country ]

Notes:

Per capita income or average income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area’s total income by its total population.

Q10.On the basis of distribution, resources can be classified into which of the following?

[A] Potential resources

[B] Ubiquitous resources

[C] Actual resources

[D] Abiotic resources

Correct Answer: B [Ubiquitous resources]

Notes:

A ubiquitous resource is a natural resource that is available just about anywhere you live. Air, wind, water are all ubiquitous resources. Localized resources are natural resources only found in certain places.

Q11.Per Capita Income of a country is obtained by dividing National Income by which of the following?

[A] Total working population

[B] Total population of the country

[C] Area of the country

[D] Volume of the capital used

Correct Answer: B [ Total population of the country ]

Notes:

Per capita income or average income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area’s total income by its total population.

Economics Questions

Q12.Which of the following ministries is responsible for calculating GDP in India?

[A] Ministry of Finance

[B] Ministry of Commerce and Industry

[C] Ministry of Central Statistical and Program Implementation

[D] Ministry of consumer Affairs

Correct Answer: C [Ministry of Central Statistical and Program Implementation]

Notes:

The work of computing the GDP is done by the Central Statistical Organization (CSO) which is under the Ministry of Statistical and Program Implementation. It is is responsible for macroeconomic data gathering and statistical record keeping.

Q13.On the basis of distribution, resources can be classified into which of the following?

[A] Potential resources

[B] Ubiquitous resources

[C] Actual resources

[D] Abiotic resources

Correct Answer: B [Ubiquitous resources]

Notes:

Q14.Which among the following is an example of micro-economic variable?

[A] National Income

[B] Consumer’s Equilibrium

[C] Aggregate Supply

[D] Employment

Correct Answer: B [Consumer’s Equilibrium]

Notes:

Microeconomic variables are those patterns or elements that can be used to describe the behavior of a person or an individual economic unit, like a business. Eg. Consumer’s Equilibrium.

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Q15.Which of the following is represented by ‘Lorenz Curve’?

[A] Inflation

[B] Income Distribution

[C] Employment

[D] Deflation

Correct Answer: B [Income Distribution]

Notes:

In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth. It was developed by Max O. Lorenz in 1905 for representing inequality of the wealth distribution.

Q16.Which of the following says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling?

[A] Law of diminishing marginal product

[B] Law of variable proportions

[C] The Short Run

[D] The Long Run

Correct Answer: B [Law of variable proportions]

Notes:

The law of variable proportions states that as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will eventually decline.

Q17.Which of the following is called GDP Deflator?

[A] Ratio of nominal to real GNP

[B] Ratio of nominal to real CPI

[C] Ratio of real to nominal GNP

[D] Ratio of nominal to real GDP

Correct Answer: D [Ratio of nominal to real GDP]

Notes:

The GDP deflator is a measure of price inflation. It is calculated by dividing Nominal GDP by Real GDP and then multiplying by 100. Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation

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18.Which of the following is related to Microeconomics?

[A] The size of national economy

[B] Inflation

[C] Unemployment

[D] Behaviour of individual economic units

Correct Answer: D [Behaviour of individual economic units]

Notes:

Micro Economics is that branch of economics which deals with the behaviour of individual economic units of the economy such as individual households, individual firms or industry. It revolves around the determination of prices of individual commodities and factors.

Q19.Which of the following is correct regarding the law of demand?

[A] It is relationship between Income and price of commodity

[B] Assumes Income of customer should not change

[C] Assumes Price of the commodity should not change

[D] It is relationship between Income and Quantity demanded

Correct Answer: B [Assumes Income of customer should not change]

Notes:

Law of demand states that things like customer’s income, taste, and preference, Price of substitutes remaining unchanged, quantity demanded of a commodity is inversely related to the price of a commodity.

20.Which among the following is related to the demand curve?

[A] Relation between quantity demanded and price of a commodity

[B] Relation between supply and demand of a commodity

[C] Relation between income of customer and demand of commodity

[D] None of the above

Correct Answer: A [Relation between quantity demanded and price of a commodity]

Notes:

The demand curve is the graphical representation of the relationship between the quantity demanded of a commodity and its prices. It is downward sloping from left to right because of the law of diminishing marginal utility, income effect, and price effect.

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