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Which of the following is an economic indicator of a country's growth?
GDP
Population
Rainfall
Literacy Rate
GDP
Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. It serves as the primary scorecard of a country's economic health and overall growth.
Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. It serves as the primary scorecard of a country's economic health and overall growth.
In India, the computation and release of GDP data are handled by the National Statistical Office (NSO) operating under the Ministry of Statistics and Programme Implementation (MoSPI).
GDP measures the total economic output and growth rate of a nation.
It can be calculated using three approaches: the expenditure approach, the output/production approach, and the income approach.
Real GDP is adjusted for inflation, whereas Nominal GDP is calculated at current market prices.
Option A is correct because GDP directly measures economic activity and output growth.
Population (Option B) is a demographic indicator rather than a direct economic growth indicator.
Rainfall (Option C) is a meteorological and geographical factor that impacts agriculture but is not a direct economic indicator.
Literacy Rate (Option D) is a socio-economic and human development indicator focused on education rather than total economic output.
A is correct тАФ Gross Domestic Product (GDP) is the definitive economic indicator used globally to measure a country's economic growth and output.
For RRB and competitive exams, connect GDP with related national income concepts like GNP, NNP, and the difference between real and nominal GDP.
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