Types of GDP AFCAT Questions

Types of GDP MCQ Questions

1.
GDP stands for?
A.
Gross Domestic Product
B.
Gross Demand Product
C.
General Domestic Product
D.
General Demand Product
ANSWER :
A. Gross Domestic Product
2.
Which sector is the largest contributor to India's GDP?
A.
Agriculture
B.
Services
C.
Industry
D.
Mining
ANSWER :
B. Services
3.
GDP measures the market value of?
A.
Goods only
B.
Services only
C.
Goods and services
D.
Intermediate goods
ANSWER :
C. Goods and services
4.
Nominal GDP is measured at?
A.
Current prices
B.
Constant prices
C.
Market prices
D.
Factor cost
ANSWER :
A. Current prices
5.
Real GDP is measured at?
A.
Current prices
B.
Constant prices
C.
Market prices
D.
Factor cost
ANSWER :
B. Constant prices
6.
Which of the following is excluded from GDP calculations?
A.
Consumption expenditure
B.
Government spending
C.
Net exports
D.
Black market activities
ANSWER :
D. Black market activities