Question : What is the parameter for economic development?

Option 1: Per capita monetary income

Option 2: National income

Option 3: Per capita rural income

Option 4: Population

Question : What is the nominal GDP if the real GDP is 500 and the price index is 150?

Option 1: 650

Option 2: 450

Option 3: 750

Option 4: 350

Question : Which of the following statement (s) is true?

A) Higher inflation means lower real GDP, ceteris paribus
B) The price index is 200 if nominal and real GDP are the same.

Option 1: Only B

Option 2: Both A and B

Option 3: Only A

Option 4: Neither A nor B

Question : As of 2022, India is the _______________largest economy in the world (as measured by nominal GDP).

Option 1: third

Option 2: second

Option 3: fifth

Option 4: fourth

Question : Net domestic product is calculated as_______.

Option 1: Gross Domestic Product (GDP)  - Depreciation

Option 2: Gross National Product (GNP) - Depreciation

Option 3: Gross Domestic Product (GDP) - Net income earned from abroad

Option 4: Gross National Product (GNP)  - Net income earned from abroad