Basic Economic Concepts — Prelims Questions

Consider the following statements about India's GDP calculation: 1. GDP at market prices includes indirect taxes but excludes subsidies 2. GDP deflator measures the change in prices of all goods and services included in GDP 3. Real GDP is calculated using current year prices 4. GDP by expenditure method includes consumption, investment, government spending and net exports Which of the statements given above are correct?

Which of the following best explains the difference between cost-push and demand-pull inflation?

Consider the following about money supply in India: 1. M1 includes currency with public and demand deposits with banks 2. M3 is also known as broad money 3. M4 includes all components of M3 plus total deposits with post office savings banks 4. Currency with public excludes cash with banks Which of the above statements are correct?

The concept of 'disguised unemployment' is most commonly associated with which sector in India?

Which of the following combinations correctly represents the components used in calculating Human Development Index (HDI)?