Most Expected Question For Jkssb Finance accounts assistant Economics

 1. Who was the father of Economics? 

A. Marshall             C. Robbins 

B. Adam Smith       D. Keynes

 2. Normative Economic theory deals with 

A. What to produce       

 B. How to produce

 C. Whom to produce 

D. How the problem should be solved. 

3. Cetris peribus means: 

A. Demand constant

 B. Supply constant

 C. Other thing being constant

 D. None of these

 4. Micro Economics theory deals with: 

A. Economy as a whole

 B. Individual units

 C. Economic growth

 D. All the above

 5. In economics goods includes material things which.... 

 A. A can be transferred 

 B. Can be visible.

 C. Both A & B

 D. None of these

 6. Human wants are: 

 A. limited 

 C. undefined 8 10 11 12

 B. unlimited 

 D. None of these

 7. Nature of PPF curve is.... 

A. convex to the origin

 B. concave to the origin. 

C. Both A and B 

D. None of these 

 8. If PPF is linear it implies...

A. constant opportunity cost

 B. diminishing apart cost 

C. increasing opportunity cost 

D. None of these 

9. Any point beyond PPF is 

A. attainable

 C. Both A and B 

B. unattainable 

D. None of these 

10. If an economy is working at the point left to PPF curve that shows... 

A. full employment 

B. unemployment 

C. excess production 

D. None of these 

11. The most fundamental economic problem is: 

A. security

 B. the fact The United States buys more goods from foreigners than we sell to foreigners 

C. health 

D. scarcity 

12. Economics is best defined as the study of how people, businesses, governments and societies: 

A. make choices to cope with scarcity 

B. attain wealth 

C. choose abundance over scarcity 

D. use their infinite resources. 

13. As an economic concept, scarcity applies to:

 A. neither time nor money 

B. both money and time 

C. time but not money 

D. money but not time  

14. Micro-economics focuses on all of the following EXCEPT:

 A. the effect of increasing the money supply 638 on inflation 

B. the purchasing decisions that an individual consumer makes 

C. the effect of an increase in the tax on cigarettes on cigarette sales. 

D. the hiring decisions that a business makes. 

15. Studying the determination of prices in individual markets is primarily a concern of

A negative economics 

B. micro-economics 

C. positive economics 

D. macro-economics 

16. Principal characteristics of resources are: 

A. they are scarce in relation to our needs

 B. they have alternative uses

 C. Both A and B.

 D. None of these 

17. Economic problem arises due to the fact that: 

A. resources are scarce 

B. human wants are unlimited

 C. resources have alternative uses

 D. All of these 

18. The resources for satisfying human wants are: 

A. limited 

B. unlimited 

C. available at zero prices 

D. None of these 

19. Positive economics involves statements which are:

 A. verifiable 

 B. not verifiable 

 C. may or may not be verifiable 

 D. None of these

 20. Normative economics deals with: 

A. facts 

B. opinions 

C. Both A and B 

D. None of these 

21.Economic Survey in India is published by the: 

A. Reserve Bank of India 

B. NITI Aayog 

C. Ministry of Finance, Government of India 

D. Ministry of Industries, Government of India 

22. Fiscal policy in India is formulated by:

 A. Reserve Bank of India

 B. Planning Commission 

C Finance Ministry 

D. Securities and Exchange Board of India 

23. If we deduct grants to states for the creation of capital assets from revenue deficit, we arrive at: 

A. Primary deficit 

B. Net fiscal deficit

 C. Budgetary deficit 

D. Effective revenue deficit 

24. Which one of the following is the largest item of expenditure of the Government of India on revenue account? 

A. Defence 

C. Pensions 

B. Subsidies 

D. Interest payments

 25. Which one of the following is a capital receipt in government budget? 

A. Interest receipts on loans given by the government to other parties 

B. Dividends and profits from public sector undertakings 

C. Borrowing of the government from public 

D. Income tax receipts

 26. Equality in a country can be best brought through: 

A. Progressive expenditure

 B. Regressive taxation

 C. Regressive expenditure 

D. None of the above

 27. Fiscal deficit in the union budget is equal to: 

A. Net increase in internal and external borrowings 

B. The difference between current expenditure and current revenue 

C. The sum of monetized deficit and budgetary deficit 

D. Net increase in the union government's borrowing from the Reserve Bank of India 

28. Fiscal deficit implies:

 A. Total expenditure (Revenue receipts + Recovery of loans + Receipts from disinvestment) 

B. Total expenditure - Total receipts from all sources, including borrowings  

C. Total expenditure Fresh loans) (Revenue +receipts ) 

D. Total expenditure - Disinvestment receipts 

29. Fiscal Responsibility and Budget Management Act (FRBMA) was passed to keep check on:

 A. Fiscal deficit only 

B. Revenue deficit only

 C. Both fiscal deficit and revenue deficit

 D. Neither fiscal deficit nor revenue deficit 

30. According to the provisions of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 and FRBM Rules, 2004, the government is under obligation to present three statements before the Parliament along with the annual budget. Which one of the following is not one of them?

 A. Macroeconomic framework statement

 B. Fiscal policy strategy statement

 C. Medium-term fiscal policy statement

 D. Short-term fiscal policy statement

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Here are the answers

1    A

2    D

3    C

4    B

5    C

6    B

7    B

8    A

9    B

10  B

11  D

12  A

13  B

14  A 

15  B

16  C

17  D

18  A

19  A

20  B

21  C

22  C

23  D

24  D

25  C

26  C

27  A

28  A

29  C

30  D