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Question Practice

What does the term 'real GDP' account for?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Macroeconomics
National Income Accounting
Question Bank

What does the term 'real GDP' ...

Single Answer MCQ
Q-00106745

What does the term 'real GDP' account for?

1

Changes in population size over time.

2

Inflation by adjusting nominal GDP.

3

Only goods and services produced in the public sector.

4

The GDP of neighboring countries.

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Q1.

What does GDP stand for?

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Q2.

Which of the following is NOT included in GDP calculation using the expenditure method?

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Q3.

In the expenditure method, which component represents expenditures by households?

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Q4.

What is the formula for GDP using the expenditure method?

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