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Consider the following statements. 1. GDP evaluated at current market price is not the right metric to compare the GDP figures of different countries. 2. Nominal GDP is calculated in a way such that the goods and services are evaluated at some constant set of prices. 3. If the Real GDP changes, we can be sure that it is the volume of production which is undergoing changes. Which of the above statements is/are correct?
This question appeared in the JKPSC Prelims 2022 examination (GS-I). It is Question 74 out of 100 questions in this paper.
This question was part of the JKPSC Prelims 2022 (GS-I). The JKPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all JKPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.