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🏫 Board📈 Economics

National Income & Related Aggregates

2 Board Economics previous year questions on National Income & Related Aggregates — options free on every question; 1 include the answer & explanation free, the rest unlock with PYQ Pass.

Q1 FREE PREVIEW

To arrive at the value of Net Value Added at Market Price (NVAMP), _________ must be _________ to/from Gross Value Added at Market Price (GVAMP).
(Choose the correct option to fill in the blanks)

a

depreciation, added

b

depreciation, subtracted

c

net indirect taxes, subtracted

d

net indirect taxes, added

✓ Correct answer: b)

depreciation, subtracted

Explanation

To convert a gross value (GVAMP) to a net value (NVAMP), depreciation must be subtracted.

Q2

In an economy, exclusion of _______ may lead to underestimation of the value of Gross Domestic Product (GDP).
(Choose the correct option to fill in the blank)
(i) Barter Transactions
(ii) Services provided by family members
(iii) Illegal activities
(iv) Depreciation of Assets

a

(i) and (ii)

b

(ii) and (iii)

c

(iii) and (iv)

d

(i), (ii) and (iii)

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