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General Economy Questions and Answers for competitive exams

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General Economy Questions and Answers for competitive exams UPSC SSC , IAS Prelims, SSC CGL, CHSL, General Awareness Questions Mcq

general economy questions and answers

31.
Consider the following statements : a. NTPC has diversified to hydropower sector b. Power Grid Corporation has diversified into telecom sector. Which of the statements below is correct ?

a
Only a
b
None of a and b
c
Only b
d
Both of a and b
View Answer
Discuss
32.
Production function expresses

a
financial relationship between physical inputs and output
b
relationship between finance and technology
c
technological relationship between physical inputs and output
d
relationship between factors of production
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Discuss
33.
The Oilseeds Production Programme (OPP) was launched in

a
1988
b
1986
c
1990
d
1987
View Answer
Discuss
34.
Which one of the following is not a quantitative credit control measure of a Central Bank ?

a
Bank Rate Policy
b
Cash Reserve Ratio
c
Open Market Operations
d
Moral Suasion
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Discuss
35.
Surplus earned by a factor other than land in the short period of referred to as

a
quasi-rent
b
super-normal rent
c
economic rent
d
net rent
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Discuss
36.
Economic rent refers to

a
Payment made for the use of organisation
b
Payment made for the use of land
c
Payment made for the use of labour
d
Payment made for the use of capital
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Discuss
37.
When marginal utility is zero, the total utility is

a
Maximum
b
Minimum
c
Increasing
d
Decreasing
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Discuss
38.
The credit control operation in India is performed by

a
Rural banks
b
Reserve Bank of India
c
Commercial banks
d
State Bank of India
View Answer
Discuss
39.
The fourteen major banks in India were nationalised in the year

a
1969
b
1968
c
1967
d
1971
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Discuss
40.
About how many Indians cannot meet their essential needs as per a report by McKinsey Global Institute (MGI) released on 19th February, 2014 ?

a
36%
b
56%
c
46%
d
66%
View Answer
Discuss
41.
Which among the following subjects is not an aim of the monetary policy of the Reserve Bank of India ?

a
To ensure social justice.
b
Giving impetus to economic development
c
Direct credit with objective criteria
d
To control pressure of inflation
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42.
What is the name of the electronic communication network of the Reserve Bank of India ?

a
BOLT
b
RBIDOT
c
RBISAT
d
RBINET
View Answer
Discuss
43.
Prime cost is equal to

a
Variable cost plus fixed costs
b
Variable cost plus administrative cost
c
Variable cost only
d
Fixed cost only
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44.
Gross domestic product is a measure of :

a
A country's international economic activities
b
A country's financial position
c
A country's industrial output
d
A country's domestic economic activities
View Answer
Discuss
45.
The 'break-even point' is where

a
total revenue equals total cost
b
average revenue equals average cost
c
marginal revenue equals marginal cost
d
None of these
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