Economics MCQs

GDP Questions with solutions MCQs

1. ____ has the highest Gross State Domestic Product (GSDP0

A

Maharastra

B

Kerala

C

Punjab

D

Uttar Pradesh

GDP JKPSI 2022 CBT
Correct Answer : A
Explanation :

<span style="color: rgb(69, 95, 124); font-family: &quot;Open Sans&quot;, &quot;Open Sans fallback&quot;, Helvetica, Arial, sans-serif; font-size: 15px;">&nbsp;The state of Maharashtra in India had the highest gross state domestic product in financial year 2020, valued at over 28 trillion Indian rupees. Tamil Nadu and Uttar Pradesh followed with values at 17.9 and 16.8 trillion rupees respectively, during the measured time period.</span><span><br></span>

Correct Answered :

Wrong Answered :

2. GDP at factor cost exceeds GDP at market price:

A

When the factor income from abroad is negative

B

When depreciation on fixed capital exceeds income in investment

C

When direct tax exceeds indirect tax

D

When subsidies exceeds indirect taxes

GDP Accounts Assistant LAHDC
Correct Answer : D
Explanation :

When subsidies exceeds indirect taxes

Correct Answered :

Wrong Answered :

3. Which of the following is a narrow indicator of economic development that excludes non-economic indicators such as leisure time, access to health, education, environment, freedom or social justice?

A

NNP

B

GNP

C

GDP

D

Per Capita income

GDP General Economics
Correct Answer : C
Explanation :

Increase in output of goods and services and in income does not imply an improvement in the standard of living of the people because GDP is a narrow indicator of economic development that does not include non-economic indicators such as leisure time, access to health, education, environment, freedom or social justice.

Correct Answered :

Wrong Answered :

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