The 'Gross Domestic Product' at market prices equals GVA at basic prices plus: MCQ with Answer and Explanation

Question

Share Report Error

The 'Gross Domestic Product' at market prices equals GVA at basic prices plus:

A. depreciation

B. product taxes minus product subsidies

C. product subsidies minus product taxes

D. net factor income from abroad

Answer: Option B

Solution (By JKSSB Mock Tests)

GDP at market prices = GVA at basic prices + product taxes - product subsidies.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Pradhan Mantri Shram Yogi Maandhan' provides pension to:

A. only farmers

B. unorganized sector workers in the age group of 18 to 40 years

C. all citizens

D. only government employees

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
PM-SYM provides monthly pension to unorganized workers aged 18-40.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'balance of payments' crisis of 1991 in India was partly caused by:

A. high foreign exchange reserves

B. fiscal surplus

C. high exports

D. high oil import bill and declining remittances

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
The 1991 BoP crisis was triggered by high oil prices, declining remittances and low reserves.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Paris Agreement' aims to limit global temperature rise this century to well below:

A. 2°C above pre-industrial levels

B. 4°C

C. 3°C

D. 1°C

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
The Paris Agreement aims to limit warming to well below 2°C, preferably 1.5°C.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs