Economics MCQ Questions and Answers
Economics MCQ Questions with Answers are essential for candidates preparing for competitive exams like UPSC, SSC CGL, and RBI Grade B. These aptitude questions cover vital economic concepts including demand-supply, national income, fiscal policy, inflation, and international trade. Each question tests both theoretical understanding and practical application, ensuring candidates are ready for objective-type exams. Practicing aptitude questions with answers and explanations helps in revising economic fundamentals quickly. Whether you are a student, job aspirant, or exam enthusiast, this comprehensive economics MCQ set is perfect for self-assessment. Strengthen your general awareness and problem-solving ability by practicing free economics tests or downloading the solutions PDF.
Economics MCQ
121. Which is the characteristic of a tax ?
- Tax is a payment for government service
- Tax is a compulsory payment
- Tax is voluntary
- To get benefit for a tax is compulsory
122. Which government income is included in revenue budget ?
- Tax-revenue
- Non-tax-revenue
- Both of above
- None of the above
123. Which is included in Capital budget ?
- Income received from public borrowings
- Income received from tax-sources
- Income received from non-tax sources
- All of the above
124. Which is not included in the principles of public expenditure as developed by Findley Shirras ?
- Principle of Economy
- Principle of Sanction
- Principle of Elasticity
- Principle of Surplus
125. Which of the following is the largest significant factor of revenue expenditure of Central Government ?
- Defence Expenditure
- Subsidy
- Interest Payment
- Salary
126. In comparison to revenue deficit; the size of fiscal deficit is always-
- Higher
- Smaller
- Similar
- Uncertain
127. What is CENVAT ?
- Direct Tax
- Indirect Tax
- Development Planning
- None of the above
128. What is the nature of income tax in India ?
- Proportional
- Progressive
- Regressive
- None of the above
129. Which factor is not related to economic development ?
- Continuous process
- Increase in real national income
- Long run and continuous increase
- Compulsory change in economic welfare
130. Process of economic development means-
- Economic change
- Social change
- Ethical, institutional and cultural change
- All of the above