Indian economy for ssc cgl
Q : Which of the following statements is correct?
(A) Most workers will work for less than their reservation wage
(B) The reservation wage is the maximum amount of any firm will pay for a worker
(C) Economic rent is the difference between the market wage and the reservation wage
(D) Economic rent is the amount one must pay to enter a desirable labour market
Correct Answer : C
With which form of economy is the term ‘Laissez-Faire’ associated?
(A) Capitalist Economy
(B) Socialist Economy
(C) Mixed Economy
(D) Command Economy
Correct Answer : A
Who among the following promotes social justice?
(A) Herald Laski
(B) John Keynes
(C) John Rowles
(D) All of the above
Correct Answer : C
The Relationship between the rate of interest and consumption level was firstly estimated by–
(A) Amartya Sen
(B) Milton Freedman
(C) Irwing Fischer
(D) James Duezan Berry
Correct Answer : B
The Surplus earned by a factor other thus land in the short period is referred as –
(A) Economic Rent
(B) Net Rent
(C) Quasi-Rent
(D) Super-Normal Rent
Correct Answer : C
Labour Intensive Technique would get chosen in a–
(A) Labour Surplus Economy
(B) Capital Surplus Economy
(C) Developed Economy
(D) Developing Economy
Correct Answer : A
According to whom second chamber is unnecessary & bad?
(A) Monkahour
(B) Bentham
(C) Seale
(D) Loosky
Correct Answer : B
Which among the following is not true about the work of Human Resource and Development (HRD)–
(A) Caste – System
(B) Youth and Sport
(C) Education
(D) Child Development
Correct Answer : A
The Views of eminent economist Robert Malthus on Population is–
(A) Pessimistic
(B) Optimistic
(C) Both (a) and (b)
(D) None of the above
Correct Answer : A
Amartya Sen was awarded the Noble Prize for his contribution to–
(A) Monetary Economics
(B) Welfare Economics
(C) Econometrics
(D) Development Economics
Correct Answer : B
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