Defining GDP

Q.

What Is an Example of Intermediate Goods?

Q. The goods used to produce a final good are called goods.

1. resource
2. normal
3. Giffen
4. intermediate

Q.

Write down the three identities of calculating the GDP of a country by the three methods. Also briefly explain why each of these should give us the same value of GDP.

Q.

Market price of the final goods and services (including depreciation) produced within the domestic territory of a country during an accounting year, is called :

1. GDP at market price

2. GNP at market price

3. GDP at factor cost

4. GNP at factor cost

Q.

Which of the following elements are a part of the GDP definition?

1. Factor cost

2. Market price

3. Final goods

4. Final services

Q.

Domestic product is equal to :

1. National product + Net factor income from abroad

2. National product - Net factor income from abroad

3. National product $÷$ Net factor income from abroad

4. National product $\times$ Net factor income from abroad

Q. What type of goods are counted for calculation of GDP in India?

Q. What are final goods?

Q. Differentiate between the Normal goods and Inferior goods.

Q.

What measures were taken towards privatisation in 1997?

Q. Write short notes on:
1) Value added approach
2) Expenditure method of measuring national income.
3) Circular flow of national income
4) Personal disposable income
5) Net national product at factor cost

Q.

A key difference between goods and services is :

1. Price

2. Tangibility

3. Size

4. Mode of payment

Q. Distinguish between:

Net national product and Net domestic product.

Q. GDP stands for _______.

1. Gross Domestic Production
2. Great Domestic Product
3. Gross Domestic Product
4. Great Domestic Production

Q.

The fact that customers have to pay for their hotel stay in advance, before living the actual experience, is a typical example of a service marketing characteristic called:

Q. Purest form of national income is _________.

1. GNP (Gross National Product)
2. NNP (Net National Product)
3. GDP (Gross Domestic Product)
4. All the above

Q. Sugar purchased by a Sweet shop is an ______ good, while it is a _______ good when it is purchased by a consumer.

1. final, intermediate
2. capital, final
3. intermediate, final
4. final, producer

Q. Producers compete with each other in capitalist economy to produce those goods and services which yield _________.

1. no profits
2. higher profits
3. lower profits
4. no loss

Q. Economic activities have two parts:- market activities and ______________.

1. Same activities
2. Post activities
3. Profit activities
4. First activities
5. Non-market activities

Q. Consider the following statements:
Statement 1: Goods are those things which are tangible or intangible.
Statement 2: They satisfy human wants.
Which of the following are true?

1. Only 1
2. Only 2
3. None
4. Both

Q. The goods produced by changing the form of raw materials are called _______ goods.

1. Agricultural
2. Manufactured
3. Consumer
4. Industrial

Q. Household work and voluntary work are excluded in the calculation of GDP.

1. False
2. True