Mock Test

Exam: SSC CGL Subject: General Awareness Topic: Economics

Total Questions: 20

Q1. A decrease in taxes is an example of...

Expansionary fiscal policy Contractionary fiscal policy Monetary policy Trade policy
Q2. The SDG focused on ensuring availability and sustainable management of water and sanitation for all is:

SDG 5: Gender Equality SDG 6: Clean Water and Sanitation SDG 7: Affordable and Clean Energy SDG 8: Decent Work and Economic Growth
Q3. The 'multidimensional poverty index' considers aspects beyond income, such as:

Only access to education Health, education, and living standards The unemployment rate Economic growth rate
Q4. Which of the following is a primary indicator of economic health, reflecting the total value of all goods and services produced in a country over a specific period?

Consumer Price Index (CPI) Wholesale Price Index (WPI) Gross Domestic Product (GDP) Inflation Rate
Q5. What is the term for the psychological process through which individuals interpret their environment?

Perception Attitude Motivation Learning
Q6. Which of the following is NOT a type of life insurance?

Term Insurance Health Insurance Endowment Policy Whole Life Insurance
Q7. When a country's central bank sells foreign currency reserves, it is typically trying to:

Increase the value of its domestic currency. Reduce the size of its current account deficit. Finance a deficit in its overall Balance of Payments. Attract more foreign direct investment.
Q8. If the supply of a good decreases while the demand remains unchanged, what will be the impact on the equilibrium price and quantity?

Equilibrium price will increase, equilibrium quantity will decrease Equilibrium price will decrease, equilibrium quantity will increase Equilibrium price will increase, equilibrium quantity will increase Equilibrium price will decrease, equilibrium quantity will decrease
Q9. The 'brain drain' phenomenon, where highly skilled professionals leave India for opportunities abroad, is often cited as a negative consequence of globalization. However, a counter-argument is:

It leads to a decrease in remittances received by India It signifies a lack of opportunities within India for skilled workers It can result in 'brain gain' through remittances and the return of experienced professionals It has no discernible positive impact on the Indian economy
Q10. What is the significance of the 'Marginal Standing Facility' (MSF) rate?

It is the rate at which banks can park surplus funds with the RBI It is the rate at which banks can borrow from the RBI against government securities, above the repo rate It is the rate at which banks lend to each other overnight It is the rate at which the RBI buys government securities
Q11. A mismatch between the skills that employers need and the skills that workers possess leads to:

Cyclical unemployment Frictional unemployment Structural unemployment Seasonal unemployment
Q12. GDP at factor cost means GDP at:

Market prices Producer prices Cost of production Retail prices
Q13. Which institution in India is responsible for monetary policy?

SEBI RBI Finance Ministry NITI Aayog
Q14. The law of supply states that, ceteris paribus, as the price of a good increases:

The quantity demanded increases. The quantity supplied decreases. The quantity supplied increases. The quantity demanded decreases.
Q15. The 'Make in India' initiative primarily aims to:

Promote small-scale industries Boost manufacturing and attract foreign investment Increase agricultural exports Develop digital infrastructure
Q16. What is the main feature of an oligopoly market?

Many firms selling differentiated products Single seller with no close substitutes Few interdependent firms Perfect competition
Q17. What is the main objective of the Economic Survey?

To present the budget To analyze the economic performance To conduct a census To regulate monetary policy
Q18. A cartel is an example of what type of market structure behavior?

Perfect Competition Monopolistic Competition Collusive Oligopoly Bertrand Competition
Q19. The Narasimham Committee I, tasked with examining financial sector reforms, strongly recommended a shift from a regime of interest rate controls to a system where interest rates are primarily determined by:

Government directives The Reserve Bank of India's policy rates Market forces and credit conditions The profitability of public sector banks
Q20. The Economic Survey is typically presented in Parliament:

Before the Union Budget After the Union Budget Simultaneously with the Union Budget In a separate session of Parliament

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