Types of GDP CDS Questions

CDS Economy

Types of GDP MCQ Questions


7.
Why is Real GDP considered a better indicator than Nominal GDP?
A.
It accounts for inflation
B.
It includes subsidies
C.
It measures economic welfare
D.
It excludes taxes
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ANSWER :
A. It accounts for inflation
8.
What does GDP at Market Prices represent?
A.
Economic output excluding taxes
B.
Economic output including taxes
C.
Net national product
D.
Disposable income
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ANSWER :
B. Economic output including taxes
9.
Which of the following is excluded from GDP at Factor Cost?
A.
Indirect taxes
B.
Direct taxes
C.
Subsidies
D.
Exports
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ANSWER :
A. Indirect taxes
10.
What is the primary use of Real GDP?
A.
Comparing GDP across years
B.
Calculating national income
C.
Measuring government expenditure
D.
Tracking population growth
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ANSWER :
A. Comparing GDP across years
11.
What does Nominal GDP measure?
A.
Economic output at current prices
B.
Economic output at constant prices
C.
Net national income
D.
Economic output excluding taxes
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ANSWER :
A. Economic output at current prices
12.
Which GDP is used to compare economic performance across years?
A.
Nominal GDP
B.
Real GDP
C.
GDP at Market Prices
D.
GDP at Factor Cost
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ANSWER :
B. Real GDP