The 'Gross Value Added' at basic prices excludes: MCQ with Answer and Explanation

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The 'Gross Value Added' at basic prices excludes:

A. depreciation

B. indirect taxes net of subsidies

C. net factor income from abroad

D. all taxes

Answer: Option B

Solution (By JKSSB Mock Tests)

GVA at basic prices is measured before net product taxes, so it excludes net indirect taxes.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Reverse repo rate is the rate at which the RBI:

A. lends to the central government

B. borrows funds from commercial banks

C. rediscounts bills

D. lends to banks

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Correct Answer: Option B

Explanation:
Reverse repo rate is the rate at which the RBI borrows funds from commercial banks.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Startup India' action plan was launched in:

A. 2014

B. 2016

C. 2018

D. 2017

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Correct Answer: Option B

Explanation:
Startup India was launched in January 2016.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Gross Domestic Product' of India is estimated by which method?

A. Only income method

B. Only production method

C. Output/value added and expenditure methods

D. Only expenditure method

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Correct Answer: Option C

Explanation:
India's GDP is estimated using the output/value added and expenditure approaches.

This question belongs to: Economy GK Economy Set 1

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