CUET Economics - Identify which of the following statements is incorrect with reference to an economy? | PYQs + Solutions

CUET Economics 2025 2 June Shift 1

Macro

Medium

Sum of Gross Domestic Product (GDP) and Gross National Product (GNP) is always equal to zero.

Excess of Gross Domestic Product (GDP) over Gross National Product (GNP) is possible.

Equality between Gross Domestic Product (GDP) and Gross National Product (GNP) is possible.

Excess of Gross National Product (GNP) over Gross Domestic Product (GDP) is possible.

✅ Correct Option: 1

Related questions:

21st May Shift 1

Match List-I with List-II

List-I	List-II
(A) Final durable goods which are used in the production process for creation of goods	(I) Depreciation
(B) Wear and tear of capital	(II) Product method
(C) Measuring aggregate value of final goods and services produced by all the firms is part of	(III) Net value added
(D) Deduction of the value of depreciation from gross value added	(IV) Capital goods

Choose the correct answer from the options given below:

21 May Shift 1

If the National income of a country is ₹4000 million, the consumption of fixed capital is ₹200 million, Gross national product at market price is ₹5000 million and subsidies are ₹100 million, what will be the amount of Indirect taxes?

14 May Shift 1

Arrange the following steps in sequence for estimating GNPMP in a particular year through the income method.

(A) Adding consumption of fixed capital and Net Indirect Taxes.

(B) Classify the economy into primary, secondary and tertiary sectors.

(D) Adding Net factor income from abroad.

CUET Economics 2025 2 June Shift 1 PYQs

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