Which of the following is not included in the calculation of Gross Domestic Product at market prices? MCQ with Answer and Explanation

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Which of the following is not included in the calculation of Gross Domestic Product at market prices?

A. Old age pension paid by government

B. Final consumption expenditure of households

C. Gross fixed capital formation

D. Government final consumption expenditure

Answer: Option A

Solution (By JKSSB Mock Tests)

Old age pension is a transfer payment and is not a payment for current production, hence it is excluded from GDP.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Economic Survey' in India is published by:

A. NSO

B. Ministry of Finance

C. NITI Aayog

D. RBI

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Correct Answer: Option B

Explanation:
Economic Survey is published by the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'MUDRA' loans are extended to:

A. micro and small enterprises

B. state governments

C. multinational corporations

D. large industries

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Correct Answer: Option A

Explanation:
MUDRA provides loans to micro and small enterprises.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'UNCTAD' headquarters is in:

A. Vienna

B. Paris

C. Geneva

D. New York

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Correct Answer: Option C

Explanation:
UNCTAD headquarters is in Geneva.

This question belongs to: Economy GK Economy Set 1

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