Which of the following options is correct? In theory __________ and __________ should be equal, but in practice they typically differ because they are constructed in different approaches. (i) Nationa…

Question

Which of the following options is correct? In theory __________ and __________ should be equal, but in practice they typically differ because they are constructed in different approaches. (i) National Income and Net National Product. (ii) Real GDP and Nominal GDP. (iii) Consumer price Index and Producer Price Index.

PYQPulse · Accepted Answer

Only (i)

PYQPulse · Answer

Explanation: Per the official key, only (i): in theory National Income and Net National Product should be equal, but they differ in practice because they are constructed in different approaches.

Which of the following options is correct? In theory and should be equal, but in practice they typically differ because they are constructed in different approaches. (i) National Income and Net National Product. (ii) Real GDP and Nominal GDP. (iii) Consumer price Index and Producer Price Index.

Answer: A. Only (i)

Explanation

Which of the following options is correct? In theory and should be equal, but in practice they typically differ because they are constructed in different approaches. (i) National Income and Net National Product. (ii) Real GDP and Nominal GDP. (iii) Consumer price Index and Producer Price Index.

Answer: A. Only (i)

Explanation