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Indian Economy Question and Answer – Economic and commercial developments for competitive examinations are an important subject, especially for examinations like banks, UPSC and IAS. There are a number of questions based on Indian Economy, Monetary Policy, Agriculture, Five Year Plan, Mixed Economy, Latest Economy Current Affairs, which are here to keep you updated and get success in the interview.

1. One of the following is ‘Labour’ in Economics
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) A Musician performing for a benefit fund
(B) A Painter working for his own pleasure
(C) Reading a book as a hobby
(D) A Mother teaching her own son

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2. In terms of economics, if it is possible to make someone betteroff without making someone worseoff, then the situation is
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) Inefficient
(B) Efficient
(C) Optimal
(D) Paretosuperior

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3. When will demand become a grant?
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) When a demand is proposed
(B) After the discussion on demand is over
(C) After the demand is granted
(D) When the budget session is closed.

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4. Pump priming should be resorted to at a time of?
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) Inflation
(B) Deflation
(C) Stagflation
(D) Reflation

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5. What happens when there is a demand deficiency in an economy?
Question Asked : SSC CPO SI, ASI Online Exam 2016

(A) Poverty
(B) Stagnation
(C) Recession
(D) Inflation

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6. The Ability Principle of Taxation is given by
Question Asked : SSC (10+2) Stenographer Grade ‘C’ & ‘D’ Exam 2016

(A) Adam Smith
(B) Edge worth
(C) Joan Robinson
(D) J.S. Mill

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7. Collective consumption means
Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014

(A) household consumption
(B) individual consumption
(C) self-consumption
(D) consumption by the citizens of the country

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8. The relationship between the rate of interest and level of consumption was first visualized by
Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014

(A) Amartya K. Sen
(B) Milton Friedman
(C) Irving Fisher
(D) James Duesenberry

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9. Savings rate is relatively low in developed economies because of
Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014

(A) Low per capita income
(B) Welfare programmes
(C) Liquidity/Borrowing constraint
(D) High interest rate

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10. The value of investment multiplier relates to
Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014

(A) change in income due to change in autonomous investment.
(B) change in autonomous investment due to change in income.
(C) change in income due to change in consumption.
(D) change in the income due to change in induced investment.

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