GK Quiz 86: Economics Quiz for SSC and other exams

General Awareness Quiz – Economics

General Awareness Quiz Set 86 for SSC CGL, SSC CHSL and Railways exams. Economics Quiz for SSC CGL, SSC CHSL, Railways etc.

Topic: Economics

  1. According to Rybczynski theorem, commodity prices should be ___________
    (A) Increasing

    (B) Decreasing
    (C) Constant
    (D) Either (A) or (B)
    View answer
      Option C.
    Explanation: Constant.
  2. The shape of the production possibility curve under constant opportunity cost is
    (A) Upward sloping
    (B) Downward sloping
    (C) Straight line
    (D) U-Shape
    View answer
      Option C.
    Explanation: Staright Line.
  3. Which of the following is not a method for redeeming public debt
    (A) Capital levy
    (B) Grants-in-aid
    (C) Sinking fund
    (D) Terminal annuities
    View answer
      Option B.
  4. The displacement effect hypothesis was formulated by
    (A) Dalton

    (B) Musgrave
    (C) Pigou
    (D) Peacock and Wiseman
    View answer
    Option D.
    Peacock and Wiseman.
  5. The non-exclusion principle is related to
    (A) Merit goods

    (B) Private goods
    (C) Public goods
    (D) Mixed goods
    View answer
    Option C.
    Public Goods.
  6. A monopolist will have the equilibrium output of his product where the elasticity of his average revenue curve is
    (A) Equal to unity
    (B) More than unity
    (C) Less than unity
    (D) Zero
    View answer
      Option A.
    Explanation:Equal to Unity.
  7. “Inflation is unjust and deflation is inexpedient. Of the two, perhaps deflation is the worst.” The above statement was given by
    (A) A.C. Pigou

    (B) J.R. Hicks
    (C) J.M. Keynes
    (D) Alfred Marshall
    View answer
    Option C.
    Explanation: J.M. Kynes.
  8. Cohn and Plehn classified public expenditure on the basis of
    (A) Income

    (B) Benefit
    (C) Revenue
    (D) Utility
    View answer
      Option B.
  9. Who proposed the zero-based budgeting for the first time
    (A) Adam Smith

    (B) Peter Pyhrr
    (C) Findley Shirras
    (D) Ragnar Frisch
    View answer
      Option D.
    Explanation: Peter Pyhrr.
  10. Cumulative Frequency Curve may be used to find the value of
    (A) Median

    (B) Mean Deviation
    (C) Mode
    (D) Kurtosis
    View answer
      Option A.

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