Real GDP differs from nominal GDP because real GDP: MCQ with Answer and Explanation

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Real GDP differs from nominal GDP because real GDP:

A. is measured at current year prices

B. includes depreciation

C. includes indirect taxes

D. is measured at base year prices

Answer: Option D

Solution (By JKSSB Mock Tests)

Real GDP is valued at constant base year prices to remove the effect of inflation.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'World Economic Forum' publishes which index?

A. Logistics Performance Index

B. Corruption Perceptions Index

C. Global Competitiveness Index

D. Human Development Index

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Correct Answer: Option C

Explanation:
WEF publishes Global Competitiveness Index.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Krishi Sinchai Yojana' aims at:

A. promoting exports

B. crop insurance

C. improving irrigation and water-use efficiency

D. providing tractors

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Correct Answer: Option C

Explanation:
PMKSY aims to improve irrigation coverage and water-use efficiency.

This question belongs to: Economy GK Economy Set 1

Question #3

PM Gati Shakti is a national master plan for:

A. tax administration

B. multi-modal connectivity and integrated infrastructure planning

C. agricultural exports

D. banking reforms

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Correct Answer: Option B

Explanation:
PM Gati Shakti is a national master plan for multi-modal connectivity and integrated infrastructure planning.

This question belongs to: Economy GK Economy Set 1

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