Q1.The sum of the value of all final goods and services produced within the democratic territory of a country in a year is
Answer : Option CExplaination / Solution:
Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well.
Q2.When added net factor income from abroad to GDP we get
Answer : Option CExplaination / Solution:
NFIA) refers to the net flow of property income to and from the rest of the world (net payments on income) plus the net flow of compensation of employees (net receipts on compensation). The NFIA is added to the Gross Domestic Product (GDP) to come up with the Gross National Product (GNP).
Q3.Those activities which contributes to GNP are called
Answer : Option AExplaination / Solution:
Gross national product (GNP) is a broad measure of a nation's total economic activity. GNP is the value of all finished goods and services produced in a country in one year by its nationals.
Q6.The unemployment rate for ______ are found to be higher than for _____
Answer : Option BExplaination / Solution:
Hardly 22 percent of women are employed in the country. Roughly 78 percent of women are busy with domestic chores.
Q9.The service sector includes activities such as:
Answer : Option CExplaination / Solution:
The service sector provides a service, not an actual product that could be held in your hand. Activities in the service sector include banks, hotels, real estate education social work, services, recreation, media, communication, electricity, gas and water supply.
Answer : Option CExplaination / Solution:
It refers to participation of people in production activity and is measured as ratio of workforce to total population of the country.
Total Question/Mark :
Scored Mark :
Mark for Correct Answer : 1
Mark for Wrong Answer : -0.5
Mark for Left Answer : 0