The GDP deflator is calculated as: MCQ with Answer and Explanation

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The GDP deflator is calculated as:

A. Nominal GDP divided by NNP multiplied by 100

B. Nominal GDP divided by Real GDP multiplied by 100

C. Real GDP divided by Nominal GDP multiplied by 100

D. GDP at factor cost divided by GDP at market price multiplied by 100

Answer: Option B

Solution (By JKSSB Mock Tests)

GDP deflator = (Nominal GDP / Real GDP) × 100.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' return for monthly filing by regular dealers is:

A. GSTR-9

B. GSTR-1

C. GSTR-3B

D. GSTR-4

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Correct Answer: Option C

Explanation:
GSTR-3B is a monthly summary return for regular dealers.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Opportunity Cost of Holding Money' is related to:

A. The cost of printing money

B. The interest forgone by holding cash instead of interest-bearing assets

C. The cost of producing goods

D. The cost of banking services only

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Correct Answer: Option B

Explanation:
The opportunity cost of holding money is the interest income that could have been earned by holding interest-bearing assets instead of cash.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Financial Stability and Development Council' is chaired by:

A. SEBI Chairman

B. Union Finance Minister

C. Prime Minister

D. RBI Governor

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Correct Answer: Option B

Explanation:
The Financial Stability and Development Council is chaired by the Union Finance Minister.

This question belongs to: Economy GK Economy Set 1

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