Which of the following factors can cause an upward trend in current GDP of a country? Choose the correct answer using the codes given below.
1. Higher output in the industrial sector
2. Increase in money supply by the central bank that produces higher prices of goods and services.
3. Higher volume of imports into the economy
Consider the following statements about the three sectors of Indian economy.
1. The industrial sector has the highest export contribution vis a vis other two sectors.
2. Agricultural sector holds largest number of India’s workforce.
3. Service sector has the largest contributor to GDP.
Of these, the correct statements is/are:
Which of the following are demerits of GDP as a measurement of economic performance of a country?
1. It doesn’t consider the underlying population of a country
2. It never consider the inequality existing in the economy.
3. It is not considering the environmental cost of economic development process.
Which of these statements is/are correct?
Consider the following statements:
1. Goods that are used as intermediate for the production of final goods are not included under GDP as it will led to double counting
2. The goods that are produced by nationals in foreign countries are included under GDP.
Which of these statements are/is correct?