Economics GK Questions and Answers for Competitive Exams
The study of factor pricing is alternatively called the theory of
(A) functional distribution
(B) personal distribution
(C) Income distribution
(D) wealth distribution
Correct Answer : A
The process of curing inflation by reducing money supply is called
(A) Cost - push inflation
(B) Demand - pull inflation
(C) Disinflation
(D) Reflation
Correct Answer : C
Price theory is also known as
(A) Macro Economics
(B) Development Economics
(C) Public Economics
(D) Micro Economics
Correct Answer : D
Which of the statements is correct about India's national income?
(A) Percentage share of agriculture is higher than services
(B) Percentage share of industry is higher than agriculture
(C) Percentage share of services is higher than industry
(D) Percentage share of services is higher than agriculture and industry put together
Correct Answer : D
The gradation and standardization of agricultural products are conducted through
(A) Food Corporation of India
(B) Directorate of Marketing and Inspection
(C) Indian Standards Institution
(D) Central Statistical Organization
Correct Answer : B
Deficit financing means the government borrows money from the –
(A) International Monetary Fund
(B) Ministry of Finance
(C) Reserve Bank of India
(D) World Trade Organization
Correct Answer : C
Excise duty on a commodity is payable with reference to its
(A) production , transportation and sale
(B) production
(C) production and sale
(D) production and transportation
Correct Answer : B
Knowledge, technical skill, education etc. in economics, are regarded as
(A) tangible physical capital
(B) working capital
(C) social-overhead capital
(D) human capital
Correct Answer : D
Which is the most essential function of an entrepreneur?
(A) Marketing
(B) Risk bearing
(C) Supervision
(D) Management
Correct Answer : B
Purchasing Power Parity theory is related with
(A) Wage rate
(B) Exchange rate
(C) Interest rate
(D) Bank rate
Correct Answer : B
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Rajesh Bhatia
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