SSC Economics Sample Paper NCERT Sample Paper-1

  • question_answer
    Currently, what is the base year for calculating the Gross Domestic Product (GDP) in India?

    A)  2008 - 09         

    B)  2010 - 11

    C)  2011 - 12         

    D)  2012 - 13

    Correct Answer: C

    Solution :

    [c] Presently, 2011-12 is used as the base year for calculating gross domestic product in India. Base-year analysis expresses economic measures in base-year prices to eliminate the effects of inflation. Base-year analysis is often used when expressing gross domestic product, and is known as real GDP when referred to in this way. By eliminating inflation, the trend of economic growth is more accurate, as price level changes are accounted for.

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