General Awareness Quiz – Economics
General Awareness Quiz Set 93 for SSC CGL, SSC CHSL and Railways exams. Economics Quiz for SSC CGL, SSC CHSL, Railways etc.
Topic: Economics
- According to the monetarists, the Phillips curve in the long-run is
(a) Horizontal
(b) Vertical
(c) Upward sloping
(d) Downward sloping
- The value of a commodity expressed in terms of money is known as
(a) Price
(b) Utility
(c) Value
(d) Wealth
- Total utility becomes maximum, when
(a) marginal utility is zero
(b) marginal utility equals one
(c) marginal utility is negative
(d) marginal utility is more than one
- The decrease in the quantity demanded due to a rise in price is called
(a) contraction of demand
(b) extension of demand
(c) shift of demand
(d) multiplication of demand
- Spending of money on acquiring luxury goods and services to publicly display economic power of the buyer is called
(a) Conspicuous consumption
(b) Wealthy consumption
(c) Rational consumption
(d) Apparent consumption
- When demand of a commodity depends on the demand of some other commodities, it is called
(a) joint demand
(b) derived demand
(c) autonomous demand
(d) exclusive demand
- The zero price elasticity of demand (ep=0) is also called as
(a) perfectly inelastic demand
(b) perfectly elastic demand
(c) unitary elasticity of demand
(d) point elasticity of demand
- Price effect is a combination of
(a) income effect and consumption effect
(b) consumption effect and substitution effect
(c) income effect and substitution effect
(d) income effect and investment effect
- Engel curve shows the relationship between
(a) two goods, say X and Y
(b) level of income and quantity purchased
(c) level of income and consumption
(d) level of income and the relative prices of the commodities
- Which of the following theories of business cycle was put forward by Hicks
(a) The innovation theory
(b) The monetary theory
(c) The over investment theory
(d) The multiplier accelerator theory