Home
Class 12
ECONOMICS
Use following information of an imaginar...

Use following information of an imaginary country :
`{:("Year",2014-2015,2015-2016,2016-2017),("Nominal GDP"," "6.5," "8.4," "9),("GDP Deflator"," "100," "140," "125):}`
(i) For which year is real GDP and nominal GDP same and why ?
(ii) Calculate Real GDP for the given years. Is there any year for which Real GDP falls ?

Text Solution

Verified by Experts

(a) For the year 2014-15, real GDP and nominal GDP are same as it is the base year.
(b) Calculation of Real GDP :
Promotional Banner

Topper's Solved these Questions

  • MEASUREMENT OF NATIONAL INCOME

    SANDEEP GARG|Exercise True And False|17 Videos
  • MEASUREMENT OF NATIONAL INCOME

    SANDEEP GARG|Exercise Guidelines To NCERT Questions|3 Videos
  • MEASUREMENT OF NATIONAL INCOME

    SANDEEP GARG|Exercise Miscellaneous Practicals|16 Videos
  • INCOME DETERMINATION AND MULTIPLIER

    SANDEEP GARG|Exercise MCQ|20 Videos
  • MONEY

    SANDEEP GARG|Exercise Example|1 Videos

Similar Questions

Explore conceptually related problems

Use following information of an imaginary country : (i) For which year is real GDP and nominal GDP same and why ? (ii) Calculate Real GDP for the given years. Is there any year for which Real GDP falls ?

If the Real GDP is Rs. 300 and Nominal GDP is Rs. 330, calculate Price Index (base=100).

If the Nominal GDP is Rs 600 and price index (base 100) is 120 calculate the real GDP.

If the Nominal GDP is Rs. 1,200 and Price Index (with base=100) is 120, calculate Real GDP.

SANDEEP GARG-MEASUREMENT OF NATIONAL INCOME-HOTS
  1. Manish buys a second hand car from a car broker fro Rs. 3,25,000. The ...

    Text Solution

    |

  2. Classify the following into gross fixed capital formation and change i...

    Text Solution

    |

  3. The vegetables grown in kitchen gardening are final goods, yet their v...

    Text Solution

    |

  4. How would the following transactions affect the national income ?

    Text Solution

    |

  5. How will you treat the following in the calculation of Gross Domestic ...

    Text Solution

    |

  6. Classify the following expenditures as intermediate consumption expend...

    Text Solution

    |

  7. Increase in per capita real income means increase in per capita availa...

    Text Solution

    |

  8. Giving reason explain how should the following be treated in estimatin...

    Text Solution

    |

  9. What are non-monetary exchanges ? Give an example. Explain their impac...

    Text Solution

    |

  10. Define externalities. Give an example of negative externality. What is...

    Text Solution

    |

  11. Give an example of a positive externality and its impact on welfare of...

    Text Solution

    |

  12. Government incurs expenditure to popularise yoga among the masses. Ana...

    Text Solution

    |

  13. Sale of petrol and diesel cars is rising particularly in big cities. A...

    Text Solution

    |

  14. Suppose in an imaginary economy, GDP at Market Price in a particular f...

    Text Solution

    |

  15. The factor income earned by an economy amounted to Rs. 5,000 crores du...

    Text Solution

    |

  16. Suppose a ban is imposed on consumption of tobacco. Examine its likely...

    Text Solution

    |

  17. How does increase in inequalities in distribution of income affect wel...

    Text Solution

    |

  18. GDP as index of welfare may understate or overstate welfare. Explain t...

    Text Solution

    |

  19. Use following information of an imaginary country : {:("Year",2014-2...

    Text Solution

    |

  20. How will you treat the following items in the calculation of Domestic ...

    Text Solution

    |