Question

Read the following statements and identify the wrong one with regard to GDP.

• A. 33% of the GDP in India is contributed by agriculture
• B. GDP is a measure of the economy of a country
• C. A higher GDP indicates a better economy
• D. GDP is Gross Dynamic Production

Answer 1

The correct option is D GDP is Gross Dynamic Production

GDP (Gross Domestic Product) is the total monetary or market value of a country in a specific time period. It is used to measure a nation’s economic growth and its people’s standard of living. The higher the GDP, the better is the economy of a country.
GDP also gives guidance to the governement or people regarding the investment decisions, economic policies, etc.

In an agricultural country like India, about 62% of the population is engaged in agriculture and this accounts for about 33% of the country's GDP.