Mock Test

Exam: SSC CHSL Subject: General Awareness Topic: Economics

Total Questions: 20

Q1. Which economic indicator focuses on the changes in prices of goods and services purchased by consumers?

GDP CPI GNI PPI
Q2. What is the threshold limit for GST registration for businesses?

Rs. 10 lakhs Rs. 20 lakhs Rs. 30 lakhs Rs. 40 lakhs
Q3. Which account in the balance of payments records government transfers and payments?

Current account Capital account Financial account Reserve account
Q4. Which of the following is a negative impact of globalization on the Indian economy?

Increased competition Job creation Technology transfer Cultural exchange
Q5. Globalization has led to the outsourcing of jobs from developed countries to India. True or False?

True False
Q6. Which currency notes are issued by the Reserve Bank of India?

Rupee notes Dollar notes Euro notes Yen notes
Q7. Which economic model focuses on the interaction between buyers and sellers in determining market prices?

Supply and demand model Marginal utility model Rational expectations model Game theory model
Q8. How often is the Economic Census conducted in India?

Every 5 years Every 10 years Every 15 years Every 20 years
Q9. What is the process of deciding how to allocate scarce resources to satisfy unlimited wants?

Resource allocation Wastage Inflation Unemployment
Q10. Which theory suggests that economic growth is driven by technological progress?

Endogenous growth theory Classical theory Structuralist theory Keynesian theory
Q11. What is the impact of inflation on fixed-income earners?

Increases their real income Decreases their real income No impact on real income Increases their purchasing power
Q12. Which of the following is not a cause of inflation?

Increase in demand Increase in production efficiency Increase in money supply Increase in costs
Q13. Which of the following is a tool used by the central bank to control the money supply?

Fiscal Policy Monetary Policy Trade Policy Industrial Policy
Q14. What is the term used to describe the situation where workers are willing to work at a lower wage than the market equilibrium wage?

Labour shortage Labour surplus Labour equilibrium Labour demand
Q15. What is the term used for the difference between the interest earned and interest paid by a bank?

Profit Loss Spread Margin
Q16. Which Indian state was the first to introduce economic planning?

Maharashtra Kerala West Bengal Uttar Pradesh
Q17. Which of the following is an example of contractionary fiscal policy?

A. Increasing government spending B. Decreasing taxes C. Decreasing interest rates D. Decreasing government spending
Q18. What is a trade policy that involves selling goods in a foreign market at a price lower than the domestic market price?

Tariff Export subsidy Dumping Quota
Q19. Which institution is responsible for regulating the insurance sector in India?

RBI SEBI IRDA TRAI
Q20. Which theory suggests that government intervention in the economy is harmful and leads to inefficiencies?

Keynesian economics Austrian economics Marxian economics Behavioral economics

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