BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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national income growth adjusted for inflation
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national income growth adjusted for population growth
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national income growth adjusted for depreciation rate
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national income growth adjusted for saving growth
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Detailed explanation-1: -2. Economic growth means increase in real national income.
Detailed explanation-2: -Key Takeaways Real gross domestic product is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year. Real GDP is expressed in base-year prices and is often referred to as constant price, inflation-corrected, or constant dollar GDP.
Detailed explanation-3: -Real income is the income of individuals or nations after adjusting for inflation. It is calculated by dividing nominal income by the price level.
Detailed explanation-4: -The value of national income adjusted for inflation is called Real national income. This is adjusted for inflation which is calculated from a reference year which is also called as base year.