Real GDP is calculated at:
Options
ACurrent Prices
BConstant Prices
CFuture Prices
DMarket Prices
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Determination of National IncomePYQ - May 2018 (Inter)Question 113 of 20
All Questions Correct Answer
✅ Option b — Constant Prices
All Options:
- ACurrent Prices
- BConstant Prices
- CFuture Prices
- DMarket Prices
About This Chapter: National Income
Paper
Paper 4: Business Economics
Weightage
15%
Key Topics
Aggregates, Measurement, Keynesian Theory
A crucial chapter covering national income aggregates like GDP, GNP, NDP, NNP, and the methods of measuring national income (Income, Expenditure, and Output methods). It also introduces Keynesian Theory including the concepts of Aggregate Demand, Consumption Function, and the Multiplier.
View Official ICAI SyllabusExam Strategy Tip
Practice numerical questions on GDP/GNP calculations and the Multiplier. These are guaranteed marks in every exam. Also understand the circular flow of income clearly.
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