The value of GDP at the current prevailing prices is defined as. Option 1: Real GDP Option 2: GDP Deflator Option 3: Consumer Price Index Option 4: Nominal GDP

The answer is 'Nominal GDP'. View full solution:

CUET Economics - The value of GDP at the current prevailing prices is defined as. | PYQs + Solutions

CUET Economics 2026 6th June Shift 1

Macro

Easy

Real GDP

GDP Deflator

Consumer Price Index

Nominal GDP

✅ Correct Option: 4

Related questions:

22 May Shift 1

What is change in price?

26 May Shift 2

Which of the following are included while calculating national income by expenditure method?

(A) Expenditure on single-use producer goods purchased by firms.

(B) Expenditure incurred by a private trust running an orphanage on the education of the children.

(D) Expenditure by foreigners on the final goods produced in the country.

Choose the correct answer from the options given below:

30 May Shift 1

Match List-I with List-II

List-I	List-II
(A) GDP at constant price	(i) known as Nominal GDP
(B) GDP at current price	(ii) Increases only when there is increase in the quantum of output in the economy.
(C) Welfare of the people	(III) known as earned income
(D) Factor income	(IV) Measured in terms of the availability of goods and services

Choose the correct answer from the options given below: