CUET Economics PYQs

Which of the following statements are true in macroeconomics?

(A). GVA at factor costs + Net production taxes = GVA at basic prices.

(B). GVA at basic prices + Net product taxes = GVA at market prices.

(C). GNP ≡ GDP - Net factor income from abroad.

(D). NNP ≡ GNP – Depreciation.

Choose the correct answer from the options given below:

Value added refers to which of the following?

Which of the following are correct statements regarding Gross Domestic Product (GDP)?

(A) GDP is a measure of the welfare of a country.

(B) Real GDP is measured at current market prices.

(C) Expenditure method estimate =Income Method estimate =Product Method estimate=GDP of a country.

(D) Gross National Product at factor cost = GDP$_{MP}$ + Net factor income from abroad.

Choose the correct answer from the options given below:

1. (A), (B) and (D) only
2. (A), (B) and (C) only
3. (A), (B), (C) and (D)
4. (B), (C) and (D) only