CUET Economics 2025 31 May Shift 1 PYQs

Which of the following will be included in national income, while using the income method to calculate the same:-

(Choose the correct option)

From the following find the statements related to GDP and the welfare of the economy

(A) The domestic services that women perform at home are considered in the calculation of GDP.

(B) Harmful effects caused due to carbon emissions from factory production are not counted as GDP.

(C) The rise in GDP may be concentrated in the hands of very few individuals or firms.

(D) Higher levels of GDP always ensure higher welfare.

Choose the correct answer from the options given below:

This is the index of prices of a given basket of commodities which are bought by the representative customer. Two years under consideration are kept – one is the base year, the other is the current year. First, the cost of purchase of a given basket of commodities in the base year is calculated. Then the cost of purchase of the same basket in the current year is calculated. Then we express the latter as a percentage of the former.

This index is called :

1. Customer Index Pricing
2. Consumer Index Pricing
3. Consumer Price Index
4. Customer Price Index