Mock Test

Exam: SSC JE Subject: General Awareness Topic: Economics

Total Questions: 20

Q1. What does the term 'fiscal policy' refer to?

Government's control over money supply Government's control over interest rates Government's control over taxation and spending Government's control over exchange rates
Q2. Which is the highest decision-making body in India's economic policy formulation?

Planning Commission NITI Aayog Finance Commission RBI
Q3. The term 'Economic Planning' in India is derived from which model?

Soviet model American model Chinese model European model
Q4. What is the term used for the process of safeguarding against potential financial losses?

Risk management Asset management Wealth management Portfolio management
Q5. According to Rostow's stages of growth model, which stage involves the take-off to sustained growth?

Preconditions for take-off Take-off Drive to maturity Age of high mass consumption
Q6. What is the term for the process of converting assets into cash?

Liquidity Insolvency Bankruptcy Foreclosure
Q7. Which organization provided financial assistance to India during the economic crisis of 1991?

IMF World Bank ADB BRICS Bank
Q8. The 'Baltic Tiger' refers to the economic development of which country?

Estonia Latvia Lithuania Finland
Q9. What is the role of infrastructure in economic development projects?

It has no impact It is essential for growth It hinders progress It only benefits specific industries
Q10. According to the Lewis dual-sector model, what happens to wages in the industrial sector as surplus labor is absorbed?

Wages decrease Wages remain constant Wages increase Wages fluctuate
Q11. Which of the following is a government scheme for rural housing?

PM-KISAN PMAY-G PMFBY MNREGA
Q12. Which of the following is not a key objective of the Economic Survey?

To provide policy recommendations To analyze global stock markets To assess economic performance To suggest reforms
Q13. Which indicator measures the difference between a country's total exports and total imports of goods?

Trade balance Current account balance Budget deficit GDP growth rate
Q14. Which year did India conduct its latest Economic Census?

2018 2019 2020 2021
Q15. What is the term used to describe the situation where the production or consumption of a good affects the well-being of a third party?

Market equilibrium Externality Free rider problem Tragedy of the commons
Q16. Which policy involves government intervention in setting exchange rates?

Fiscal policy Monetary policy Trade policy Exchange rate policy
Q17. Which industry is responsible for generating electricity?

Textile industry Energy industry Hospitality industry Jewelry industry
Q18. What is the primary focus of a contractionary monetary policy?

Boost economic growth Stabilize prices Increase government debt Reduce unemployment
Q19. Which scheme provides crop insurance to farmers against crop loss?

Pradhan Mantri Fasal Bima Yojana Ayushman Bharat Yojana National Rural Employment Guarantee Act Skill India Mission
Q20. Inflation leads to a decrease in the purchasing power of:

Goods and services Money Labor Capital

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