Which of the following is NOT included in the calculation of GDP at market prices? MCQ with Answer and Explanation

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Which of the following is NOT included in the calculation of GDP at market prices?

A. Private consumption expenditure

B. Intermediate goods

C. Net exports

D. Gross investment

Answer: Option B

Solution (By JKSSB Mock Tests)

GDP includes only final goods and services to avoid double counting. Intermediate goods are not included in GDP calculation.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Ways and Means Advances' are given by RBI to:

A. central and state governments to bridge temporary mismatches in receipts and expenditures

B. foreign governments

C. commercial banks

D. NBFCs

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Correct Answer: Option A

Explanation:
Ways and Means Advances are short-term advances by RBI to governments to bridge temporary mismatches.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a measure to promote exports?

A. Export subsidies

B. High import tariffs on export inputs

C. Special Economic Zones

D. Duty drawback schemes

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Correct Answer: Option B

Explanation:
High import tariffs on inputs used in export production raise costs and discourage exports. Export promotion measures include subsidies, duty drawbacks and SEZs.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' was first introduced in India through which amendment?

A. 100th Constitutional Amendment

B. 102nd Constitutional Amendment

C. 99th Constitutional Amendment

D. 101st Constitutional Amendment

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Correct Answer: Option D

Explanation:
GST was introduced through the 101st Constitutional Amendment Act, 2016.

This question belongs to: Economy GK Economy Set 1

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