RRB NTPC Economics quiz for Stage-I 13/08/2019

RRB NTPC Economics quiz for Stage-I

Railway/SSC JE Civics quiz for  (Phase I), RRB NTPC, SSC various exams and other competitive exams.

Q1. ‘Galloping Inflation’ is also known as

गैलपिंग इन्फ्लेशन’ _______________ के रूप में भी जाना जाता है

(a) Walking Inflation/ धीमी मुद्रास्फीति

(b) Hyper Inflation/ हाइपर इन्फ्लेशन

(c) Running Inflation/ दौड़ती स्फीति

(d) Normal Inflation/ सामान्य मुद्रास्फीति

Answer & Explanation
Ans.1.(b)

Exp. Galloping inflation is also called hyper inflation. It is that type of inflation in which the price of good increases two or three digit per annum. It is also known as jumping inflation. Hyperinflation is extremely fast or out-of-control inflation. Hyperinflation occurs when price increases are so wild that the concept of inflation is meaningless.

Q2. Curve describing the variation of household expenditure on a particular good with respect to household income is known as ?

घरेलू आय के संबंध में एक विशेष सामान पर घरेलू खर्च की विविधता का वर्णन करने वाले वक्र को किस रूप में जाना जाता है?

(a) Phillips curve/ फिलिप्स वक्र

(b) Engel curve/ एंगल वक्र

(c) Great Gatsby curve/ ग्रेट गैट्सबी वक्र

(d) Supply curve/ आपूर्ति वक्र

Answer & Explanation
Ans.2.(b)

Exp. Engel’s Law is an economic theory introduced in 1857 by Ernst Engel, a German statistician, stating that the percentage of income allocated for food purchases decreases as income rises.

Q3. Malthusian theory is associated with?

माल्थसियन सिद्धांत किस से सम्बन्धित है?

(a) Population/ जनसंख्या

(b) Employment/ रोज़गार

(c) Diseases / रोग

(d) None of these/इनमें से कोई नहीं

Answer & Explanation
Ans.3.(a)

Exp. The Malthusian Theory of Population is a theory of exponential population growth and arithmetic food supply growth.

Q4. What happens when there is a demand deficiency in an economy?

जब एक अर्थव्यवस्था में मांग की कमी होती है तो क्या होता है?

(a) Poverty / निर्धनता

(b) Stagnation/ स्थिरता

(c) Recession / मंदी

(d) Inflation/ मुद्रास्फीति

Answer & Explanation
Ans.4.(b)

Exp. Stagnation is a situation that occurs within an economy when total output is either declining, flat or rising slightly. Consistent unemployment is also a characteristic of a stagnant economy.

Q5. Which of the following market is related to Backward bending supply curve?

निम्नलिखित में से कौन सा बाजार पीछे की ओर मुड़े हुए आपूर्ति वक्र से संबंधित है?

(a) Capital / पूंजी

(b) Real estate/ रियल एस्टेट

(c) Money /मुद्रा

(d) Labour/ श्रम

Answer & Explanation
Ans.5.(d)

Exp. The backward-bending labor supply curve. This supply curve shows how the change in real wage rates affects the number of hours worked by employees.

Q6. Which of the following curve shows the inverse relationship between unemployment and inflation rates ?

निम्न में से कौन सा वक्र बेरोजगारी और मुद्रास्फीति दर के बीच विपरीत संबंध को दर्शाता है?

(a) Supply curve/ आपूर्ति वक्र

(b) Indifference curve/ उदासीन वक्र

(c) IS curve / IS वक्र

(d) Phillips curve/ फिलिप्स वक्र

Answer & Explanation
Ans.6.(d)

Exp. The Phillips curve shows the inverse trade-off between rates of inflation and rates of unemployment.

Q7. Excise duty is levied on

उत्पाद शुल्क किस पर लगाया जाता है?

(a) export of goods/ माल का निर्यात

(b) production of goods/ माल का उत्पादन

(c) import of goods/ माल का आयात

(d) None of these/इनमें से कोई नहीं

Answer & Explanation
Ans.7.(b)

Exp. An excise or excise tax is a type of tax charged on goods produced within the country. It is a tax on the production or sale of a good.

Q8. A tax paid by a person who inherits money or property or a levy on the estate (money and property) of a person who has died is known as?

एक व्यक्ति द्वारा भुगतान किया गया कर जो पैसे या संपत्ति या विरासत में मिला है या उस व्यक्ति की संपत्ति (धन और संपत्ति) पर लगाया जाता है जो मर गया है उसे क्या कहते हैं?

(a) Income Tax/ आयकर

(b) Inheritance tax / विरासत कर

(c) Gift tax / उपहार कर

(d) Sales tax/ विक्री कर

Answer & Explanation
Ans.8.(b)

Exp. An inheritance or estate tax is a tax paid by a person who inherits money or property or a levy on the estate (money and property) of a person who has died.

Q9. The Lorenz curve is a graphical representation of?

लोरेंज वक्र किसका चित्रमय प्रतिनिधित्व है?

(a) Poverty/ निर्धनता

(b) Unemployment/ बेरोजगारी

(c) Income distribution/ आय वितरण

(d) Population/ जनसंख्या

Answer & Explanation
Ans.9.(c)

Exp. The Lorenz curve is a graphical representation of income inequality or wealth inequality developed by American economist Max Lorenz in 1905.

Q10. Which of the following is a tertiary activity?

निम्नलिखित में से क्या एक तृतीयक गतिविधि है?

(a) Farming/ खेती

(b) Manufacturing/ विनिर्माण

(c) Dairying/ डेरी

(d) Trading/ व्यापार

Answer & Explanation
Ans.10.(d)

Exp. Trading is an active style of participating in the financial markets that seeks to outperform traditional buy-and-hold investing. A trader is person or entity, in finance, who buys and sells financial instruments such as stocks, bonds, commodities, derivatives, and mutual funds in the capacity of agent, hedger, arbitrageur, or speculator.

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