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CUET Economics 2023 PYQs30 May Shift 1. Free, no login required.

Macro

past year questions, CUET Economics 2023 30 May Shift 1

National Income

past year questions, Macro, CUET Economics 2023 30 May Shift 1

Easy

What will be the GDP by Income Method in crore ?

Firm AFirm B
Wages2060
Profits3090

Solution

✅ Correct Option: 2

GDP by Income Method = Sum of factor incomes (Wages + Profits + Rent + Interest).

Total Wages = 20+60=8020 + 60 = 80 crore

Total Profits = 30+90=12030 + 90 = 120 crore

GDP = 80+120=20080 + 120 = 200 crore.

Related questions:

2025: 30 May Shift 1

Match List-I with List-II

List-IList-II
(A) GDP at constant price(i) known as Nominal GDP
(B) GDP at current price(ii) Increases only when there is increase in the quantum of output in the economy.
(C) Welfare of the people(III) known as earned income
(D) Factor income(IV) Measured in terms of the availability of goods and services

Choose the correct answer from the options given below:

2026: 20 May Shift 1

Firm starts the year with an inventory of 400 shirts. During the coming year it expects to sell 2000 shirts, hence it produces 2000 shirts. The firm is able to sell only 1500 shirts. At the end of the year find out inventories.

2026: 21 May Shift 1

In occurrence of which type of externalities, GDP will underestimate the actual welfare of the economy?

2023: 11 June Shift 3

From the following data calculate net domestic product at factor cost.

S.No.ItemRs. crore
(i)Depreciation20
(ii)Gross National Products at factor cost1000
(iii)Net factor income from abroad30
(iv)Net indirect taxes10

2026: 15 May Shift 1

Which of the following are limitations of using GDP as a sole indicator of welfare?

A. Public park used for recreation activities.

B. It does not account for income equality.

C. It does not evaluate the value of unpaid household work.

D. It can be increased due to activities which may be harmful to the environment.

Choose the correct answer from the options given below:

2025: 31 May Shift 1

Which of the following approach measures economic activity by adding the aggregate value of final goods and services newly produced in a nation during a fixed period of time?

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