The 'Gross National Product at market prices' equals GDP at market prices plus: MCQ with Answer and Explanation

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The 'Gross National Product at market prices' equals GDP at market prices plus:

A. depreciation

B. subsidies

C. indirect taxes

D. net factor income from abroad

Answer: Option D

Solution (By JKSSB Mock Tests)

GNP at market prices = GDP at market prices + net factor income from abroad.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Reserve Bank of India' transfers its surplus profit to:

A. SEBI

B. banks

C. Government of India

D. state governments

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Correct Answer: Option C

Explanation:
The RBI transfers its surplus profit to the Government of India.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on life insurance premiums is:

A. 18%

B. 0%

C. 12%

D. 5%

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Correct Answer: Option A

Explanation:
Life insurance premiums attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on entertainment events is:

A. 28%

B. 5%

C. 12%

D. 18%

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Correct Answer: Option D

Explanation:
Entertainment events generally attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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