Economics
GDP and Welfare
Practice questions
If NNP₍FC₎ is to be derived from GDP₍FC₎, which formula is correct?If GDP at market price is ₹12,000 crore, NNP at factor cost is ₹10,300 crore, NIT is ₹600 crore, and depreciation is ₹900 crore, what is NFIA?What problem arises when leisure time is ignored while using NNP as an indicator of welfare?GDP at market price includes the effect of what?Why is GDP not considered a perfect measure of welfare?Which effect is included in GDP at market price?If NIT is negative, what can be the relation between GDP_FC and GDP_MP?Why are unpaid household services generally not included in GDP?Why is GDP not considered a complete measure of welfare?What problem arises because GDP does not fully show environmental damage?If imports are ₹450 crore and exports are ₹400 crore, what will be the net exports?If GDP increases, welfare will always increase; what kind of statement is this?Which factor should be considered while understanding the difference between GDP and welfare?Why may pollution cost not be fully shown directly in GDP?Why can measuring illegal activity in GDP be difficult?Why is the unpaid service of parents teaching their children at home generally not included in GDP?If GDP at factor cost is ₹9,700 crore, indirect taxes are ₹850 crore and subsidies are ₹250 crore, what will be GDP at market price?Per capita GDP is used to understand what?If GDP is 18,000 crore and the population is 450 crore, what will be per capita GDP?Why can poverty exist even when GDP is high?