Macro

National Income

Easy

In the base year 2020, a country produced 1000 toys, price was Rs 100 per toy. In 2025 the same country produced 500 toys at price Rs 150 per toy. The value of nominal and real GDP in year 2025 considering 2020 as base year:

Nominal-75000, Real-50000

Nominal-50000, Real-25000

Nominal-750000, Real-500000

Nominal-850000, Real-500000

✅ Correct Option: 1

Nominal GDP in 2025 uses current output and current price: $500 \times 150 = Rs\ 75000$ . Real GDP values current output at base year (2020) price: $500 \times 100 = Rs\ 50000$ . Hence Nominal $= 75000$ , Real $= 50000$ .

2025: 2 June Shift 1

Identify which of the following is not considered as 'Normal Resident' of India?

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:

2026: 21 May Shift 2

Match the LIST-I with LIST-II

	LIST-I		LIST-II
A.	Consumer Durables	I.	Not extinguished by immediate or even short period consumption.
B.	Intermediate good	II.	Used as raw material or inputs for production of other commodities.
C.	Final good	III.	Fixed assets used in production process.
D.	Capital goods	IV.	Not pass through any more stages of production or transformations.

Choose the correct answer from the options given below:

2025: 29 May Shift 2

Identify which of the following statements is true about the final goods?

2026: 20 May Shift 1

The change in inventories takes place over a period of time. It is consider as a:

2026: 31 May Shift 1

Match the LIST-I with LIST-II

GDP= Gross Domestic Product, GNP= Gross National Product, NNP= Net National Product

LIST-I		LIST-II
A. NNP at factor cost	I.	NNP
B. GNP - Depreciation	II.	National Income
C. GDP at market price	III.	Net investment
D. Gross investment - depreciation	IV.	$GNP_{MP}$ - Net factor income from abroad

Choose the correct answer from the options given below:

In the base year 2020, a country produced 1000 toys, price was Rs 100 per toy. In 2025 the same country produced 500 toys at price Rs 150 per toy. The value of nominal and real GDP in year 2025 considering 2020 as base year:

Solution

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