Economics (Part – III)

Total Questions: 50

21. An economy in which both, the private sector and the government are involved is known as an________ economy. [S.S.C. Online CGL (T-I) 24.08.2021 (Shift-I)]

(a) parallel
(b) amalgam
(c) mixed
(d) blended

Correct Answer: (c) mixed

Solution:An economy in which both the private sector and the government are involved is known as a mixed economy.

22. The mixed economy is: [S.S.C. Online CHSL (T-I) 19.03.2020 (Shift-I)]

(a) presence of subsistence and commercial farming
(b) co-existence of traditional and modern industries
(c) a market system of resource allocation, commerce and trade in which free markets coexist with government intervention
(d) presence of domestic and foreign investments

Correct Answer: (c) a market system of resource allocation, commerce and trade in which free markets coexist with government intervention

Solution:The mixed economy is a market system of resource allocation, commerce and trade in which free markets coexist with government intervention.

23. Which is the parameter for economic develop-ment? [S.S.C. Online CHSL (T-I) 8.09.2016 (Shift-I)]

(a) Per capita monetary income
(b) National income
(c) Per capita rural income
(d) Population

Correct Answer: (a) Per capita monetary income

Solution:Per capita, monetary income is the parameter for economic development. Per capita income (PCI) or average income calculates the average income per person received in a given area (town, city, country, etc.) over a given year. It is determined by dividing the total revenue of the region by its total population.

24. Insider trading is related to--- [S.S.C. Online C.G.L. (T-I) 7.09.2016 (Shift-II)]

(a) Trade sector
(b) Share market
(c) Credit market
(d) Horse racing

Correct Answer: (b) Share market

Solution:'Insider Trading' is related to the share market. Under this, the employees of the company or any related person get an undue advantage in share trading by using internal information of the company. This is an illegal act.

25. he total population per net cultivated area of a country refers to its_________ . [S.S.C. Online CHSL (T-I) 10.08.2021 (Shift-III)]

(a) population density
(b) agricultural density
(c) physiological density
(d) livestock density

Correct Answer: (c) physiological density

Solution:The total population per net cultivated area of a coun-try refers to its physiological density.

26. Which of the following is done at a Stock Exchange? [S.S.C. Online C.G.L. (T-I) 8.09.2016 (Shift-III)]

(a) Commodities are bought and sold at wholesale price
(b) Commodities are bought and sold at retail price
(c) Securities are bought and sold
(d) None of these

Correct Answer: (c) Securities are bought and sold

Solution:Stock exchange is a type of organized market where trading, buying and selling of securities takes place in the securities issued by the central government, state government, public institutions, and joint stock companies.

27. "The General Equilibrium Analysis" was devel-oped by - [S.S.C. Online C.G.L. (T-I) 7.09.2016 (Shift-II)]

(a) Marshall
(b) Ricardo
(c) Walras
(d) Adam Smith

Correct Answer: (c) Walras

Solution:The General equilibrium theory was first developed by the French economist Leon Walras in the late 19th century. It attempts to explain the functioning of the macroeconomy as a whole, rather than as collections of individual market phenomena.

28. Full employment is the level at which there is________ . [S.S.C. Online CHSL (T-I) 22.01.2017(Shift-I)]

(a) no frictional unemployment
(b) no cyclical unemployment
(c) no structural unemployment
(d) no unemployment

Correct Answer: (b) no cyclical unemployment

Solution:According to macroeconomics, full employment refers to the situation where the demand for labour at a given real wage level is equal to the available labour supply. The term is used for a situation where employment is generally found for all willing to work at the current rate of wages. Full employment is not a state of zero unemployment. Full employment does not mean that a person is not unemployed in the economy. In the state of full employment, there is a balance between employment opportunities and the people who are able and willing to do them, but in this equilibrium, some unemployment may be present in the economy, which is called 'Natural Unemployment'. According to Spencer, "Full employment is a situation in which everyone is working whatever they want to do, except those who are frictionally and structurally unemployed".

29. "Himayat" is a training cum-placement program for unemployed youth in the state of- [S.S.C. Online C.G.L. (T-I) 11.09.2016 (Shift-II)]

(a) Haryana
(b) Punjab
(c) Jammu and Kashmir
(d) Himachal Pradesh

Correct Answer: (c) Jammu and Kashmir

Solution:In collaboration with the Union Ministry of Rural Development, the Government of Jammu and Kashmir, and other institutions, the 'Himayat' scheme was started in Jammu and Kashmir from the year 2011, to provide training and employment to 30 thousand youths of the state in the next 4 years to provide related skill development.

30. Which of the following institutions conducts the survey on employment and unemployment? [S.S.C. Online CHSL (T-I) 09.08.2021 (Shift-II)]

(a) NITI Aayog
(b) National Council of Applied Economic Research
(c) National Sample Survey Organisation
(d) National Institution of Economic and Social Research

Correct Answer: (c) National Sample Survey Organisation

Solution:The National Sample Survey Organization (NSSO) conducts Employment & Unemployment Surveys, regularly on a quinquennial basis to measure inter-alia employment & unemployment situation in the country.

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