Question : Which of the following reflects the growth of an economy?
 

Option 1: Nominal GDP
 

Option 2: Real GDP
 

Option 3: GDP deflator
 

Option 4: Current price index
 

Question : ______________ refers to production of goods and services valued at current price.
 

Option 1: Nominal GDP
 

Option 2: Real GDP
 

Option 3: GDP deflator
 

Option 4: Real national income
 

Question : GDP deflator =

Option 1: (nominal GDP × Real GDP) × 100

Option 2: (nominal GDP + Real GDP) × 100

Option 3: (nominal GDP - Real GDP) × 100

Option 4: (nominal GDP / Real GDP) × 100

Question : Which of the following is the Gross Domestic Product (GDP) Deflator?

Option 1: The ratio of nominal to real GDP

Option 2: The ratio of nominal to real GNP

Option 3: The ratio of nominal to real CPI

Option 4: The ratio of real to nominal GNP

Question : The value of GDP at the current prevailing prices is called _______.

Option 1: nominal GDP

Option 2: current GDP

Option 3: domestic GDP

Option 4: Real GDP

Question : The ratio between the nominal and real GDP is called ____.

Option 1: Net national income

Option 2: Value added GDP

Option 3: Green GDP

Option 4: GDP deflator