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

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

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

1st/2nd 3rd/4th 5th/6th 7th/8th

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

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

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

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

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

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