Net Domestic Product at market prices equals GDP at market prices minus: MCQ with Answer and Explanation

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Net Domestic Product at market prices equals GDP at market prices minus:

A. subsidies

B. net factor income from abroad

C. depreciation

D. indirect taxes

Answer: Option C

Solution (By JKSSB Mock Tests)

NDP is obtained by deducting depreciation from GDP.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Quasi-rent is associated with:

A. land in the long run

B. fixed factors in the short run

C. labour only

D. money supply

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Correct Answer: Option B

Explanation:
Quasi-rent is the short-run return to a fixed factor of production.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a capital account transaction in the balance of payments?

A. Foreign direct investment inflows

B. Interest payments on external debt

C. Remittances from non-resident Indians

D. Export of software services

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Correct Answer: Option A

Explanation:
Foreign direct investment is a capital account transaction. Software exports, remittances and interest payments are current account items.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'RBI's Annual Report' is published by:

A. NITI Aayog

B. National Statistical Office

C. Ministry of Finance

D. Reserve Bank of India

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Correct Answer: Option D

Explanation:
The RBI publishes its Annual Report.

This question belongs to: Economy GK Economy Set 1

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