Macro

National Income

Easy

To get gross domestic product at a factor cost (GDP_FC), which among the following should be deducted from GDP at market price (GDP_MP).

Net indirect taxes.

Current transfers from government

Net factor income from abroad

Depreciation

✅ Correct Option: 1

$GDP_{FC} = GDP_{MP} -$ Net indirect taxes (indirect taxes minus subsidies). Market prices include indirect taxes and exclude subsidies, so removing net indirect taxes converts market price to factor cost. Depreciation converts gross to net, and net factor income from abroad converts domestic to national.

2025: 29 May Shift 2

Identify which of the following is not included while estimating national income?

2023: 30 May Shift 1

Accounting of National Income at constant price is called :

2025: 30 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Capital consumption	(I) Value added
(B) Part of raw material which gets used up	(II) Intermediate consumption
(C) A stock variable	(III) Depriciation
(D) A flow variable	(IV) Inventory

Choose the correct answer from the options given below:

2022: 15 July Shift 2

What is the value of real GDP if nominal GDP is Rs.3300 crores and GDP deflator is 150.

2025: 13 May Shift 2

Consumer Price Index (CPI) is measured by_______

2025: 13 May Shift 1

The index of prices of a given basket of commodities which are bought by the representative consumer is known as :

To get gross domestic product at a factor cost (GDP_FC), which among the following should be deducted from GDP at market price (GDP_MP).

Solution

Related questions:

Keyboard Shortcuts

CUET Economics Past Year Questions (Topic-Wise)