Items Excluded in GDP

Q.

Purely financial activities have no effect on the GDP - either directly or indirectly. State true or false.

1. True

2. False

Q.

Let’s take a commodity- sugar. A factory manufactures sugar and sells some of it to households in the village. Some of the sugar is also used to make ice cream. And the remaining sugar is used to make chocolate syrup, that is sold in the market. Some of the ice cream is sold in retail outlets and some of it used to make milkshakes in a factory. These milkshakes are now sold in bottles to consumers. Which of the following are final goods?

1. Sugar

2. Ice cream

3. Chocolate syrup

4. Milkshakes

Q.

If a car is purchased by a taxi-operator, it will be regarded as a:

1. Capital good

2. Intermediate good

3. Final good

4. Both (a) and (c)

Q.

In the production of sugar, sugarcane is :

1. A final good

2. A capital good

3. An intermediate good

4. None of these

Q.

A mobile dealer sells counterfeit models of iPhones. Is this taken into account while calculating GDP?

1. Yes

2. No

3. Yes, but only if the number of phones sold is less than 10.

4. Yes, but only if the number of phones sold is more than 10.

Q.

Which of the following items is not included while estimating GNP of a country at market price?

1. Sales of the enterprises

2. Indirect taxes

3. Remittances by NRIs

4. Subsidy

Q.

Those goods which satisfy human wants directly are called :

1. Intermediate goods

2. Consumer goods

3. Capital Goods

4. None of these

Q.

Let’s take a commodity- sugar. A factory manufactures sugar and sells some of it to households in the village. Some of the sugar is also used to make ice cream. And the remaining sugar is used to make chocolate syrup that is sold in the market. Some of the ice cream is sold in retail outlets and some of it used to make milkshakes in a factory. These milkshakes are now sold in bottles to consumers. Which of the following are intermediate goods?

1. Sugar

2. Ice cream

3. Chocolate syrup

4. Milkshakes

Q.

Own account production of services is not included in national income because:

A .Services are different from goods

B. Services are not productive

C. It is difficult to measure market value of such services

D. None of these

Q.

Which of the following is true about GDP?

1. It is a stock variable

2. It is a flow variable

3. It is not a variable

4. Its value is indeterminate