GDP measures the economic output within a country's geographical boundaries.
Prices of total commodities produced and services within a country, in a given year, is known as :-
Asked in Assistant Engineer (AE) Exam 2013 · Topic: National Income & Gross Domestic Product (Gross Domestic Product (GDP): Concepts and Measures)
More Economic Development questions
- What is the economic target of the present Government of India to turn the country into by 2024?
- What is the rank of India in the world economy in 2023-2024 according to the size of GDP ?
- According to American based think tank population Review Report 2020, which of the following statements is/are correct ? 1. India's GDP in 2019 was ₹ 209 lakh crore. 2. India emerged as fifth largest economy of the world. 3. India over-take countries like Britain and France. Select the correct answer using codes given below : Codes : (a) 1 and 2 only (b) 1 and 3 only (c) 2 and 3 only (d) 1, 2 and 3 correct
- Among the following National Income Concepts, find out the correct one :
- Which of the statements given below is/are correct? (i) GNP is always higher than GDP. (ii) If GDP is greater than GNP, then net factor income earned abroad is negative. Select the correct answer using the codes given below.
- GNP measures ______.
- Which of the following statement/s is/are incorrect ? (a) GNP is the total money value of goods and services produced by the nationals during the given year. (b) The part of income produced in the country but earned by foreigners is included in GNP. (c) Per capita income shows the marginal income of the people in the country.
- Consider the following statement: Statement I : Gross National Product will always be more than the GDP. Statement II : To get GNP, net factor income from abroad is added to GDP. Find the correct answer: