CUET Economics 2025 29 May Shift 1 PYQs

Identify the steps in sequence to calculate the value of National Income by expenditure method:

A. Calculating NNP at factor cost ( $NNP_{fc} = NDP_{fc} + NFIA$ )

B. Calculating GDP at factor cost ($GDP_{fc} = GDP_{mp} - NIT$ )

C. Calculating GDP at market price ($GDP_{mp} = C + I + G + X - M$)

D. Calculating NDP at factor cost ( $NDP_{fc} = GDP_{fc} - Depreciation$ )

Choose the correct answer from the options given below:

Suppose a country only produces bread. In the year 2000 it had produced 100 units of bread, price was Rs. 10 per bread. In 2001, the same country produced 110 units of bread at price was Rs. 15 per bread. In 2001, the nominal and real GDP are : (base year is 2000)

Why the services performed by women at home are not included in GDP?