The 'GDP deflator' is a price index that measures: MCQ with Answer and Explanation

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The 'GDP deflator' is a price index that measures:

A. prices of all domestically produced final goods and services

B. only consumer prices

C. only wholesale prices

D. only food prices

Answer: Option A

Solution (By JKSSB Mock Tests)

GDP deflator measures the average price of all final goods and services produced domestically.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'government route' for FDI requires:

A. no approval

B. prior approval from the government

C. only RBI approval

D. only SEBI approval

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Correct Answer: Option B

Explanation:
Government route requires prior approval from the concerned government ministry.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Pension System' in India is regulated by:

A. IRDAI

B. SEBI

C. RBI

D. PFRDA

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Correct Answer: Option D

Explanation:
The National Pension System is regulated by the Pension Fund Regulatory and Development Authority.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Invisible Trade' in the balance of payments includes:

A. Trade in merchandise goods only

B. Only foreign direct investment

C. Trade in services, income and unilateral transfers

D. Only capital transfers

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Correct Answer: Option C

Explanation:
Invisible trade (invisibles) comprises services (travel, transportation, software, etc.), primary income and secondary income (transfers).

This question belongs to: Economy GK Economy Set 1

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