App Logo

No.1 PSC Learning App

1M+ Downloads
Why might GDP at current prices increase?

ABecause of increase in price or quantity of goods and services

BOnly because prices rise

COnly because quantity of goods produced increases

DOnly because currency value changes

Answer:

A. Because of increase in price or quantity of goods and services

Read Explanation:

  • GDP at current price (nominal GDP) can rise due to increases either in quantity produced or in prices, so it does not show real economic growth


Related Questions:

Which of the following statements accurately reflect women's participation in decision-making in Kerala?

  1. A significant majority of women in the 30-39 age group actively participate in household decision-making.
  2. Women's involvement in decision-making processes is lower among employed women compared to unemployed women.
  3. Higher levels of education correlate with increased participation in decision-making for women.
  4. Women's participation in decision-making decreases with an increase in their years of schooling.

    Which of the following statements correctly defines the Unemployment Rate (UR) according to the Periodic Labour Force Survey (PLFS)?

    1. Unemployment Rate (UR) is defined as the percentage of unemployed persons in the labour force.
    2. The PLFS measures unemployment rate primarily in terms of usual status (principal status and subsidiary status) and weekly status.
    3. The Unemployment Rate primarily captures individuals who are employed but underpaid.
    4. UR is a measure of the total population aged 15 years and above who are not working.

      Which of the following social indicators are explicitly mentioned as characteristic achievements of the Kerala Model of Development?

      1. Literacy rate
      2. Industrial production output
      3. Life expectancy
      4. Infant mortality rate
      5. Birth rate
        In Kerala's case, what is the significant trade-off observed between growth and inequality?
        Under the Saranya scheme, what are the details regarding the bank loan and subsidy for self-employment ventures?