Question : GDP calculated at some constant set of prices is called ____________.
Option 1: real GDP
Option 2: domestic GDP
Option 3: current GDP
Option 4: nominal GDP
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Correct Answer: real GDP
Solution : The correct option is real GDP.
GDP calculated at some constant set of prices is called "real GDP". Real GDP adjusts for inflation or deflation, providing a more accurate measure of an economy's actual growth by expressing the value of goods and services in constant, base-year prices, allowing for meaningful comparisons across different periods.
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Question : GDP is an indicator of a country's economy. What does 'D' in GDP stand for?
Option 1: Development
Option 2: Domestic
Option 3: Dividend
Option 4: Deficit
Question : Which of the following is a warm current?
Option 1: Labrador Current
Option 2: Falkland current
Option 3: Canary Current
Option 4: Gulf stream
Question : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.
Option 1: Gross margin
Option 2: Gross Domestic Product (GDP)
Option 3: Net National Product (NNP)
Option 4: Gross National Product (GNP)
Question : The GDP estimation method measuring the aggregate value of factor payments is called ______.
Option 1: product method
Option 2: Value added method
Option 3: expenditure method
Option 4: income method
Question : The rhythmic rise and fall of ocean water twice in a day is called a ______.
Option 1: fall
Option 2: tide
Option 3: wave
Option 4: current
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