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Question Practice

Which year is referred to as the base year in GDP calculations?

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

Which year is referred to as t...

Single Answer MCQ
Q-00106732

Which year is referred to as the base year in GDP calculations?

1

The year with the highest nominal GDP

2

The year selected for constant prices

3

The year with the lowest production

4

The year with the highest inflation

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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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