Economics GK Practice Question and Answer
8 Q: A type of unemployment in rural areas when people are not able to find jobs during some months of the year is called ______.
1323 064242d0a9d18d2e8ae1754b3
64242d0a9d18d2e8ae1754b3- 1educated unemploymentfalse
- 2disguised unemploymentfalse
- 3frictional unemploymentfalse
- 4seasonal unemploymenttrue
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Answer : 4. "seasonal unemployment"
Q: Average Revenue means
1317 0638f0e92d319b37ca1812928
638f0e92d319b37ca1812928- 1the revenue per unit of commodity soldtrue
- 2the revenue from all commodities soldfalse
- 3the profit realised from the marginal unit soldfalse
- 4the profit realised by sale of all commoditiesfalse
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Answer : 1. "the revenue per unit of commodity sold"
Q: The intervention of the government whether to expand demand or reduce it constitutes the ___________.
1314 0649aa4ff46047484bc6fa4b6
649aa4ff46047484bc6fa4b6- 1speculative functionfalse
- 2redistribution functionfalse
- 3stabilisation functiontrue
- 4transaction functionfalse
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Answer : 3. "stabilisation function"
Explanation :
1. Government intervention, whether to expand demand or to reduce it, is called stabilization function.
Q: Which of the following is an indirect tax?
1311 064b5226e23047f4c71bfdc02
64b5226e23047f4c71bfdc02- 1Capital gains taxfalse
- 2Goods and services taxtrue
- 3Wealth taxfalse
- 4Gift taxfalse
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Answer : 2. "Goods and services tax "
Explanation :
1. Of the following, Goods and Services Tax is an indirect tax.
2. There are many types of indirect taxes, which include service tax, excise duty, customs duty and VAT.
3. GST has simplified the indirect tax system.
Q: In which year the right to service was imposed in Bihar?
1300 06037678b9d90e74af72bd308
6037678b9d90e74af72bd308- 12011true
- 22012false
- 31980false
- 41999false
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Answer : 1. "2011"
Q: What is the process of constantly increasing prices?
1277 06088f6d506b39f63ea8eddd8
6088f6d506b39f63ea8eddd8- 1Inflationtrue
- 2over productionfalse
- 3Mandifalse
- 4None of thesefalse
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Answer : 1. "Inflation"
Q: A form of financial service which provides small loans and other financial services to poor and low-income households is called ______.
1269 0642428df5bff3d098d10de5e
642428df5bff3d098d10de5e- 1microfinancetrue
- 2commercial mortgagefalse
- 3invoice financingfalse
- 4personal financefalse
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Answer : 1. " microfinance "
Q: Which of the following concepts implies that sustainable development should take a holistic approach towards notions of progress and give equal importance to non-economic aspects of wellbeing?
1263 064a69065aa4c004ce3218d63
64a69065aa4c004ce3218d63- 1Gross Domestic Productfalse
- 2Gross National Productfalse
- 3Gross National Happinesstrue
- 4Net National Productfalse
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Answer : 3. "Gross National Happiness"
Explanation :
1. Gross Domestic Product (GDP) is the standard measure of value added created through the production of goods and services in a country during a given period.
2. It also measures the income earned from that production or the total amount spent on final goods and services (less imports).