Economics SSC MTS Questions

SSC MTS-General Awareness
Economics

Economics MCQ Questions


1.
Which of the following is used to measure the total output of goods and services in an economy including depreciation during a specific period within a country?
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A.
Net Domestic Product (NDP)
B.
Gross National Product (GNP)
C.
Net National Product (NNP)
D.
Gross Domestic Product (GDP)
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ANSWER :
D. Gross Domestic Product (GDP)
2.
What is the difference between a debit card and a credit card?
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A.
Debit cards are used for online transactions while credit cards are used for in-person purchases.
B.
Credit cards require a PIN, while debit cards require a signature.
C.
Debit cards withdraw money directly from a bank account, while credit cards allow borrowing up to a certain limit.
D.
Debit cards have higher interest rates than credit cards.
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ANSWER :
C. Debit cards withdraw money directly from a bank account, while credit cards allow borrowing up to a certain limit.
3.

As per the 18th Periodic Labour Force Survey (PLFS), the unemployment rate among females (aged 15 years and above) in urban areas declined to __________ in January-March 2023.
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A.

9.7%

B.

9.2%

C.

7.8%

D.

8.2%

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ANSWER :

B. 9.2%

4.
Which of the following is an example of capital receipt in the government budget?
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A.
Sale of government bonds
B.
Income from government-owned enterprises
C.
Tax revenue collected from citizens
D.
Grants received from foreign countries
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ANSWER :
A. Sale of government bonds
5.
Which of the following best defines transfer payments?
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A.
Payments made to individuals in exchange for their labour or services
B.
Payments made by the government to individuals without any corresponding production of goods or services
C.
Payments made by businesses to their shareholders as a share of profits
D.
Payments made by individuals to the government in the form of taxes
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ANSWER :
B. Payments made by the government to individuals without any corresponding production of goods or services
6.
What is a budget deficit?
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A.
The excess of government revenue over expenditure
B.
The amount of money allocated for defence spending
C.
The amount of money allocated for social welfare programmes
D.
The excess of government expenditure over revenue
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ANSWER :
D. The excess of government expenditure over revenue
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