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What does GDP represent in the context of a country's economy?

The total value of goods and services produced within the country

The total amount of money held by the country's central bank

The total value of the country's exports

The total amount of taxes collected by the government

Qn. 2 / 9

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What is the difference between nominal GDP growth rate and real GDP growth rate?

Nominal GDP growth rate accounts for inflation, while real GDP growth rate does not

Real GDP growth rate accounts for inflation, while nominal GDP growth rate does not

Nominal GDP growth rate only considers goods, while real GDP growth rate considers both goods and services

Real GDP growth rate only considers services, while nominal GDP growth rate considers both goods and services

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What is the approximate ranking of India's GDP globally as of 2021?

1st/2nd

3rd/4th

5th/6th

7th/8th

Qn. 4 / 9

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What is the relationship between a country's GDP and its market capitalization?

As GDP expands, market capitalization tends to contract

There is no direct correlation between GDP and market capitalization

As GDP contracts, market capitalization tends to expand

As GDP expands, market capitalization tends to expand

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What are the two main sources of revenue for India Inc. (the Indian government)?

Taxes and subsidies

Exports and imports

Taxes and non-tax revenue

Foreign aid and domestic borrowing

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What are the two broad categories of government expenditure?

Revenue expenditure and capital expenditure

Direct taxes and indirect taxes

Domestic borrowing and foreign aid

Subsidies and grants

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What is the fiscal deficit?

The difference between government revenue and expenditure when revenue exceeds expenditure

The total amount of money printed by the central bank

The total amount of debt owed by the government

The difference between government revenue and expenditure when expenditure exceeds revenue

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What is the significance of the fiscal deficit as a percentage of GDP?

It indicates the level of government efficiency

It reflects the country's reliance on foreign aid

It measures the government's ability to control inflation

It is a key indicator of a country's economic health

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What is the relationship between tax collection and GDP?

Higher tax collection generally leads to lower GDP growth

There is no direct relationship between tax collection and GDP

Higher tax collection generally leads to higher GDP growth

Tax collection is independent of GDP