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. indirect taxes net of subsidies

B. net factor income from abroad

C. all taxes

D. depreciation

Answer: Option A

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

The 'Goods and Services Tax' on R&D services is:

A. 12%

B. 5%

C. 18%

D. 28%

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Correct Answer: Option C

Explanation:
Research and development services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is most likely to cause a current account deficit to widen?

A. Increase in remittances

B. Increase in exports

C. Rise in crude oil prices

D. Fall in imports

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Correct Answer: Option C

Explanation:
Rising crude oil prices increase the import bill, widening the current account deficit.

This question belongs to: Economy GK Economy Set 1

Question #3

The Sensex is a stock market index of the:

A. National Stock Exchange

B. India International Exchange

C. Multi Commodity Exchange

D. Bombay Stock Exchange

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Correct Answer: Option D

Explanation:
The Sensex is the benchmark index of the Bombay Stock Exchange (BSE).

This question belongs to: Economy GK Economy Set 1

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