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:

26 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Non-monetary exchanges	(I) Can be positive or negative
(B) Externalities	(II) Price Index
(C) Per capita income	(III) Domestic services by housewives
(D) GDP deflator	(IV) Total income/Population

Choose the correct answer from the options given below:

30 May Shift 1

Arrange the steps to calculate Net National Product at market Price by Income Method.

(A) Identify and add factor Income (Rent, wages, interest and profit).

(B) Add Net factor income from abroad.

(D) Add mixed income of self-employed.

Choose the correct answer from the options given below:

26 May Shift 2

Which of the following statements is true?

(A) Gross domestic income is a subset of national income.

(B) Corporate profit tax is a factor in income earned by the government.

(C) The production of wheat by a farmer retained by himself for his self-consumption will be included in the national income of the country.

(D) All capital goods are producer goods, but all producer goods are not necessarily capital goods.

Choose the correct answer from the options given below:

CUET Economics 2025 2 June Shift 1 PYQs