Challenger Logo

Challenger App

Get it on Google PlayGet it on App Store
Challenger App

No.1 PSC Learning App

★
★
★
★
★
1M+ Downloads
Get App
What is the significance of the base year in GSDP calculations?

AIt is the year with the highest GSDP.

BIt is the first year for which data was collected.

CIt is the year when the state was formed.

DIt is the fixed reference year used to eliminate the effect of price changes.

Answer:

D. It is the fixed reference year used to eliminate the effect of price changes.

Read Explanation:

  • The base year is a fixed reference period whose prices are used to calculate GSDP at constant prices, providing a measure of real economic growth.

Related Questions:

Which of the following statements accurately describe relative poverty?

  1. Relative poverty is typically observed in high-income countries.
  2. It describes a situation where people cannot maintain a living standard equivalent to others in their society.
  3. Relative poverty is primarily concerned with an absolute lack of basic necessities like food and shelter.

    Which of these are included in the scope of works under MPLADS?

    1. Construction of community libraries.
    2. Renovation of private commercial properties.
    3. Development of public drainage facilities.
    4. Purchase of vehicles for personal use by MPs.

      What can group inequality generate?

      1. Powerful grievances that can be used for political mobilization.
      2. A decrease in political engagement.
      3. Improved inter-group relations.
        Approximately how many tribal learners attained literacy across the three completed phases of the Wayanad Tribal Literacy project?
        What modern farming technique is promoted under the Vegetable Development Scheme for specific districts like Idukki and Wayanad?