Macro

National Income

Easy

The ratio of nominal to real GDP is a well known index of prices. This is called:

GDP per capita

GNP

Inflation

GDP Deflator

✅ Correct Option: 4

The GDP deflator is the ratio of nominal GDP to real GDP (usually multiplied by 100). It measures the average level of prices of all goods and services produced in the economy relative to the base year.

2024: 16 May

The value of Nominal GDP is USD 1100 and the value of Real GDP is USD 1000. Find the value of GDP deflator:

2025: 29 May Shift 2

Arrange the following statements in the context of the calculation of Gross National Product at Market price.

(A) Add Net factor income from abroad.

(B) Calculate values of output.

(D) Deduct intermediate consumption.

Choose the correct answer from the options given below:

2022: 16 July Shift 2

Identify the correct statement from the following:

A. The Household's investing is not considered to be the cost of building a residence

B. Net factor revenue from overseas includes money from Exports

C. The sum of factor incomes equals the net value added

D. The assessment of national income takes into account the market value of both final and intermediate items

E. Profit earned by non-resident company in India is a part of domestic income of India

Choose the correct answer from the options given below:

2025: 29 May Shift 2

Match List-I with List-II

List-I	List-II
(A) C + I + G + (X-M) + NFIA	(I) $GDP_{MP}$
(B) $GDP_{MP}$ - Depreciation	(II) Domestic Income
(C) NDP MP - IT + Subsidies	(III) $NDP_{MP}$
(D) $NDP_{MP}$ + Depreciation	(IV) $GNP_{MP}$

Choose the correct answer from the options given below:

2026: 23 May Shift 1

Which of the following activity is a limitation to GDP as an indicator of welfare?

2024: 16 May

Identify the correct statement in the context of Circular Flow of Income in an economy

The ratio of nominal to real GDP is a well known index of prices. This is called:

Solution

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