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Class 12 · Economics
→If real output rises but the composition of production shifts toward lower-priced goods, how may nominal GDP behave?
Class 12 · Economics
→An economy produces wheat and cloth. Base-year prices are ₹20 and ₹50, while current quantities are 100 and 40. If current prices are ₹24 and ₹55, what is the GDP deflator?
Class 12 · Economics
→Which statement indicates inflation-driven growth rather than real output growth?
Class 12 · Economics
→If nominal GDP is ₹1,000 crore with a deflator of 100 in year one and ₹1,260 crore with a deflator of 120 in year two, what is the real growth rate?
Class 12 · Economics
→When demand for a good rises greatly after its price falls, what problem can fixed base-year weights create?
Class 12 · Economics
→If current nominal GDP is ₹2,400 crore and prices are on average 20 percent lower than in the base year, what is real GDP?
Class 12 · Economics
→If a good had an unusually high price in the base year, how may the fixed-price method affect its current output?
Class 12 · Economics
→Output valued at base-year prices is ₹500 crore in year one and ₹550 crore in year two. What is the real GDP growth rate?
Class 12 · Economics
→Why can a comparison based only on nominal GDP be misleading when two countries have different currencies and price levels?
Class 12 · Economics
→Why is the GDP deflator called an implicit price index?
Class 12 · Economics
→Which change can raise real GDP while leaving nominal GDP unchanged?
Class 12 · Economics
→If nominal GDP is ₹960 crore and the GDP deflator is 80, what will real GDP be?
Class 12 · Economics
→An economy's real GDP increased but its real GDP per capita decreased. What does this necessarily mean?
Class 12 · Economics
→If real GDP falls by 6 percent and the price level rises by 8 percent, what is the estimated change in nominal GDP?
Class 12 · Economics
→When fixed base-year prices are used for real GDP, what bias may arise from large changes in relative prices?
Class 12 · Economics
→When no market price is available for a government service, how is its value generally estimated in nominal GDP?
Class 12 · Economics
→Why is the price of an imported final consumer good not directly included in real GDP calculation?
Class 12 · Economics
→In an economy current output is worth ₹2,000 crore at base-year prices and ₹2,300 crore at current prices. What is the implicit price increase?
Class 12 · Economics
→If nominal GDP grows by 12 percent and real GDP grows by 7 percent in a year then approximately how much does the GDP deflator grow?
Class 12 · Economics
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