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. indirect taxes

B. subsidies

C. depreciation

D. net factor income from abroad

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

The 'Goods and Services Tax' rate on readymade garments above Rs 1,000 is:

A. 28%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option C

Explanation:
Readymade garments above Rs 1,000 attract 12% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Intellectual Property Rights' in India are administered by which department?

A. Department for Promotion of Industry and Internal Trade

B. RBI

C. Ministry of Finance

D. Ministry of Law

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Correct Answer: Option A

Explanation:
IPR policy is administered by DPIIT.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Core Inflation' is useful for policy makers because it:

A. Includes all volatile items

B. Is always higher than headline inflation

C. Excludes food and fuel prices to reveal underlying inflation trends

D. Measures only food inflation

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Correct Answer: Option C

Explanation:
Core inflation excludes volatile components such as food and energy, providing a clearer picture of persistent inflationary pressures for monetary policy decisions.

This question belongs to: Economy GK Economy Set 1

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