CUET Economics 2025 29 May Shift 1 PYQs

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

Which of the following makes GDP an inappropriate index of welfare?

(A) Distribution of GDP.

(B) Externalities.

(C) Non-monetary exchanges.

(D) Price Index.

Choose the correct answer from the options given below:

A firm produces Rs 1000 worth of goods per year. Rs 200 is the value of intermediate goods used by it during the year and Rs 100 is the value of capital consumption. What is the net value of total production?