Question 6 (Choice 2) - CBSE Class 12 Sample Paper for 2022 Boards [Term 2] - Economics - Solutions to CBSE Sample Paper - Economics Class 12

Last updated at Dec. 14, 2024 by

Estimate the value of Nominal Gross Domestic Product for a hypothetical economy, the value of Real Gross Domestic Product and Price Index are given as ₹500 crores and 125 respectively.

(3 Marks)

Answer               

Real GDP= Nominal GDP/Price Index × 100

500=Nominal GDP/125×100

=500×125/100=Nominal GDP

Nominal GDP =₹ 625 crores                                                  

 

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Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years and a teacher from the past 18 years. He teaches Science, Economics, Accounting and English at Teachoo