NextQ15

Giving valid reasons, explain how the following would be treated while estimating domestic income ? (i) Payment made by a Japanese tourist for goods purchased in India. (ii) Broker's commission on the sale of second hand goods. "Gross Domestic Product (GDP) as an indicator of welfare loses its significance if the distribution of income turns unequal." Justify the given statement with valid reason.

Nominal vs. Real GDP and Related ConceptsStudy Simplify SpecialPYQ2SQ
Question 14

If the Gross Domestic Product at current prices is Rs. 6,600 crore and GDP deflator is 110, calculate the Real Gross Domestic Product. Giving valid reasons, classify the following into stock and flow variables : (i) Value of Inventories as on 31st March, 2021 (ii) Net Investments during the year 2020 - 21

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