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Questions and Answers
What is the Gross Domestic Product (GDP) a measure of?
What is the Gross Domestic Product (GDP) a measure of?
- Market exchange rate
- Purchasing Power Parity (PPP)
- Total Expenditure
- National income (correct)
How can a country's GDP be measured?
How can a country's GDP be measured?
- Nominal GDP only
- Gross Value Added only
- Through Gross Value Added, Total Expenditure, or Total Income (correct)
- Real GDP only
What is Nominal GDP?
What is Nominal GDP?
- The value of all goods and services produced in a given year, unadjusted for inflation
- The market value of goods and services produced in an economy, adjusted for inflation
- The market value of goods and services produced in an economy, unadjusted for inflation (correct)
- The value of all goods and services produced in a given year, adjusted for inflation
What is the main cause of inflation?
What is the main cause of inflation?
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Which index can be used to measure inflation in India?
Which index can be used to measure inflation in India?
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