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Questions and Answers
What does the Gross Domestic Product (GDP) measure?
What does the Gross Domestic Product (GDP) measure?
- The market value of goods and services produced in an economy, unadjusted for inflation
- The total expenditure in an economy
- The volume of all goods and services produced within an economy during a given period of time (correct)
- The total income of households in an economy
How can India's GDP be compared with that of other countries?
How can India's GDP be compared with that of other countries?
- Through the market exchange rate or Purchasing Power Parity (PPP) (correct)
- Through the Gross Value Added (GVA)
- Through the Wholesale Price Index (WPI)
- Through the Consumer Price Index (CPI)
What is the main cause of inflation?
What is the main cause of inflation?
- Cost-push pressure
- Changes in the prices of goods and services over a year
- Long-term economic growth
- Demand-pull pressure (correct)
How is Real GDP different from Nominal GDP?
How is Real GDP different from Nominal GDP?
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What does inflation targeting aim to achieve?
What does inflation targeting aim to achieve?
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