Mock Test

Exam: RRB NTPC Subject: General Awareness Topic: Economics

Total Questions: 20

Q1. What is the term used for the process of finding and hiring the right employees for a job?

Training Recruitment Promotion Termination
Q2. Foreign Direct Investment (FDI) can contribute to economic development by:

Increasing inflation Providing capital, technology, and managerial expertise Reducing domestic savings Leading to currency depreciation
Q3. Which institution issues paper currency in India?

Ministry of Finance State Bank of India Reserve Bank of India Government of India Mint
Q4. A good for which demand increases as consumer income increases is called a:

Inferior good Normal good Giffen good Substitute good
Q5. The 'check-off system' in industrial relations refers to:

An employer denying workers their rights A system where the employer deducts union dues from wages and pays them to the union A method of resolving disputes through arbitration A restriction on the right to strike
Q6. Which poverty alleviation program emphasizes the provision of skills development and entrepreneurship training for the urban poor?

National Urban Livelihoods Mission (NULM) Pradhan Mantri Awas Yojana - Urban (PMAY-U) Swachh Bharat Abhiyan (Urban) Atal Mission for Rejuvenation and Urban Transformation (AMRUT)
Q7. The 'Eleventh Five Year Plan' had the objective of 'Faster and More Inclusive Growth'. What was a major target area?

Defense Modernization Agricultural Growth Space Exploration Nuclear Energy Development
Q8. How are the voting rights of member countries in the IMF determined?

Equally for all members Based on the size of their population Based on their quota, which reflects their economic size Based on their level of development
Q9. If a country's exports are greater than its imports, it has a:

Trade deficit Trade surplus Negative GDP Balanced trade
Q10. The 'Tragedy of the Commons' is an economic problem that occurs when:

Individuals have exclusive rights to a resource, leading to overuse. A shared resource is overused and depleted due to individuals acting in their own self-interest. Government intervention successfully manages a common resource. Private property rights are clearly defined and enforced.
Q11. What does the term 'market capitalization' represent?

The total debt of a company The total value of a company's outstanding shares The number of employees in a company The profit made by a company in a quarter
Q12. Which of the following is a key export promotion scheme that provides duty benefits on inputs used in exported goods?

Merchandise Exports from India Scheme (MEIS) Services Exports from India Scheme (SEIS) Advance Authorisation Scheme Export Oriented Units (EOU) Scheme
Q13. Which program aims to boost agricultural productivity and income through various schemes?

Swachh Bharat Abhiyan MGNREGA National Mission for Sustainable Agriculture (NMSA) PMGSY
Q14. What is the primary mechanism through which the Marginal Standing Facility (MSF) operates in India?

Banks can borrow funds from RBI by pledging government securities at a higher rate Banks are required to maintain a certain percentage of their deposits with the RBI RBI sells short-term government securities to banks RBI directly injects liquidity into the economy through targeted lending programs
Q15. The concept of 'Shoe-leather costs' in economics refers to the costs associated with:

Increased production costs due to higher raw material prices. The effort and time spent by individuals to minimize the effects of inflation on their money holdings. The cost of printing and distributing new currency. The loss of purchasing power for fixed-income earners.
Q16. Which of the following best describes the 'reservation wage'?

The minimum wage set by the government The wage at which a worker is indifferent between working and not working The average wage in a particular industry The wage expected by an employer for a new hire
Q17. Which Indian city is known as the 'IT Capital' and is a major hub for services exports?

Mumbai Chennai Bengaluru Delhi
Q18. The law of supply states that, ceteris paribus, as the price of a good increases, the quantity supplied will:

Decrease Stay the same Increase Become zero
Q19. An increase in the minimum wage can potentially lead to:

A decrease in structural unemployment. An increase in frictional unemployment. A decrease in cyclical unemployment. An increase in unemployment among low-skilled workers.
Q20. What is the primary objective of a marketing board in agriculture?

To increase the price of inputs for farmers To regulate the quality and marketing of specific agricultural products To discourage the adoption of new farming technologies To reduce government involvement in agricultural markets

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