SSC Economics Sample Paper NCERT Sample Paper-6

  • question_answer
    If the GDP is measured at the price of a base year, then it is called:

    A)  Current price    

    B)  market price

    C)  Constant price

    D)         none of the above

    Correct Answer: C

    Solution :

    [c] Data reported in current (or "nominal") prices for each year are in the value of the currency for that particular year. For example, current price data shown for 2016 are based on 2016 prices, for 2015 are based on 2015 prices, and so on. Constant series show the data for each year in the value of a particular base year. Thus, for example, data reported in constant 2011 prices show data for 2015, 2016 and all other years in 2011 prices.

You need to login to perform this action.
You will be redirected in 3 sec spinner