Question : When GDP of a given year is estimated on the basis of a price of a base year it is called _______________.
Option 1: Nominal GDP
Option 2: Real GDP
Option 3: GDP at constant prices
Option 4: Both B & C
Answer (1)
10th Jan, 2024
Correct Answer:
Both B & C
Solution :
Real GDP or GDP at constant prices is calculated with GDP of a given year is estimated on the basis of Base year.
Hence, Option D is correct.
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