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SSC CPO Economy Quiz 16

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SSC CPO Economy Quiz 16

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Economy is a very important subject for Railway Recruitment exams and UPSC Exams. All these questions are easily understandable format. SSC CPO Economy Quiz 16 is very useful to crack several competetive exams. Candidates can check the daily updates on SSC Official Website.

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1. What does the term free-market denote in terms of economy?
    A. Minimal government intervention in trade and minimum regulations B. Maximum government intervention in trade and maximum regulations C. Means of production owned by the state D. None of the above

Answer: Option A
2. What is the term in economics for the consumption of fixed capital?
    A. Investment B. Value added C. Production flow D. Depreciation

Answer: Option D
3. The difference between the Gross value added and Net value added is:
    A. Investment B. Value added C. Production flow D. Depreciation

Answer: Option D
4. In India, the first bank of limited liability managed by Indians and founded in the year 1881 was?
    A. Punjab National Bank B. Punjab and Sind Bank C. Oudh Commercial Bank D. Hindustan Commerical Bank

Answer: Option C
5. What is the sum total of gross value added of all the firms in the country minus the depreciation?
    A. Gross Domestic Product B. Gross National Product C. Net Domestic Product D. Net National product

Answer: Option C
6. What is the sum total of gross value added of all the firms in the country added with the net factor income from abroad?
    A. Gross Domestic Product B. Gross National Product C. Net Domestic Product D. Net National product

Answer: Option B
7. What is the Gross National Product minus the depreciation?
    A. Gross Domestic Product B. Gross National Product C. Net Domestic Product D. Net National product

Answer: Option D
8. In terms of economics, what is an "externality"?
    A. Benefits or harm caused by a firm without payment/penalty B. Net income from foreign countries C. Total exports by a country in a given year D. None of the above

Answer: Option A
9. What is the correct formula for GDP Deflater?
    A. Nominal GDP - (minus) Real GDP B. Nominal GDP + Real GDP C. Nominal GDP/ Real GDP D. Real GDP/ Nominal GDP

Answer: Option C
10. Friedrich Hayek was a proponent of :
    A. Keynesian economics B. Communism C. Classical Liberalism D. Socialism

Answer: Option C
11. Which Indian state has the highest GDP for 2012-13? A. Gujarat B. Uttar Pradesh C. Madhya Pradesh D. Maharashtra
Answer: Option D
12. What is the global rank of India in terms of its nominal GDP?
    A. 3rd B. 5th C. 10th D. 17th

Answer: Option C
13. Which Indian city is known as its trade and financial capital?
    A. Mumbai B. Delhi C. Bangalore D. Gurgaon

Answer: Option A
14. What is India's growth rate for the 2013 - 14 fiscal year?
    A. 5.7% B. 6.7 % C. 2.6% D. 4.7 %

Answer: Option D
15. A market in which there is only one seller of a good is known as:
    A. monopoly B. monopsony C. duopoly D. perfectly competitive

Answer: Option A

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