Question : Which of the following are true?

1. Purchase of machines by a producer is an intermediate good.
2. Unexpected obsolescence is a component of depreciation.

Option 1: Both are true.
 

Option 2: Both are false.
 

Option 3: Statement 1 is true and statement 2 is false.
 

Option 4: Statement 1 is false and statement 2 is true.

Question : Statement 1: Gross Domestic Product (GDP) is a measure of the total output of final goods and services produced within a country's borders.

Statement 2: GDP excludes the value of intermediate goods and services used in production.

Option 1: Statement 1 is true, and Statement 2 is false.

Option 2: Statement 1 is false, and Statement 2 is true.

Option 3: Both Statement 1 and Statement 2 are true.

Option 4: Both Statement 1 and Statement 2 are false.

Question : Which of the following statement are true as per the mechnaism given in the picture.

1. Cotton and thread are final goods whereas cloth is an intermediate good.
2. As long as, goods are under production boundry, they are intermediate goods.
3. Goods outside production boundry are consumer goods.
4. Final goods and consumer goods are different from eachother. 

Option 1: 1,2&3

Option 2: 3&4

Option 3: 1&4

Option 4: 2&3

Question : Assertion: Gross Domestic Product (GDP) measures the value of all final goods and services produced within the domestic territory of a country during a specific period.

Reason: GDP includes the value of intermediate goods and services used in the production process.

Option 1: Both Assertion and Reason are true, and the Reason is the correct explanation of the Assertion.

Option 2: Both Assertion and Reason are true, but the Reason is not the correct explanation of the Assertion.

Option 3: Assertion is true, but the Reason is false.

Option 4: Assertion is false, but the Reason is true.

Question : The value added at different stages of production in an economy is as follows (in INR):

Stage 1: INR 400,000

Stage 2: INR 300,000

Stage 3: INR 200,000

If the total value of intermediate consumption is INR 250,000, what is the value of final goods produced in the economy?

Option 1: INR 650,000

Option 2: INR 750,000

Option 3: INR 850,000

Option 4: INR 950,000