Macro

National Income

Easy

The value of GDP at the current prevailing prices is defined as.

Real GDP

GDP Deflator

Consumer Price Index

Nominal GDP

✅ Correct Option: 4

GDP valued at the prices prevailing in the current year is nominal GDP. Real GDP values output at constant base year prices, and the GDP deflator is the ratio of nominal to real GDP. Hence the answer is nominal GDP.

2025: 30 May Shift 2

Which statement is not related to the inventory.

2022: 30 Aug Shift 2

Which of the following components, is NOT a part of compensation of employees, while estimating national income ?

2022: 19 July Shift 2

Identify the items which will be classified as stock items.

(A) Production

(B) Money supply

(D) Savings

(E) Capital stock in a Country

Choose the correct answer from the options given below :

2026: 15 May Shift 1

Which of the following are limitations of using GDP as a sole indicator of welfare?

A. Public park used for recreation activities.

B. It does not account for income equality.

C. It does not evaluate the value of unpaid household work.

D. It can be increased due to activities which may be harmful to the environment.

Choose the correct answer from the options given below:

2026: 20 May Shift 1

When there is an unexpected rise in shirt sales, this rise is called:

2025: 22 May Shift 2

The decision of an individual economic agent is the study of ...................... ?

The value of GDP at the current prevailing prices is defined as.

Solution

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