GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The value of goods and services produced by a country
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The number of people living in a country
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The average wage of the population
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Its how many points the country has gained on the HDI from the previous year.
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Detailed explanation-1: -GDP measures the monetary value of final goods and services-that is, those that are bought by the final user-produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Detailed explanation-2: -GDP is the total money value of all final goods and services produced in a country in a year.
Detailed explanation-3: -GDP stands for “Gross Domestic Product” and represents the total monetary value of all final goods and services produced (and sold on the market) within a country during a period of time (typically 1 year). GDP is the most commonly used measure of economic activity.
Detailed explanation-4: -What Is GDP Per Capita? Gross domestic product (GDP) per capita is a financial metric that breaks down a country’s economic output per person and is calculated by dividing the GDP of a nation by its population.