Match List-I with List-II

Choose the correct answer from the options given below:

(A)-(II), (B)-(I) (C)-(IV), (D)-(III)

The correct answer is Option (4) → (A)-(II), (B)-(I) (C)-(IV), (D)-(III)

• A) GDP at constant price is a measure of an economy's output adjusted for inflation. It (II) Increases only when there is an increase in the quantum of output in the economy, as it uses prices from a base year.

• B) GDP at current price is a measure of an economy's output using current market prices. It is (I) known as Nominal GDP.

• C) Welfare of the people is broadly concerned with the standard of living, which is (IV) Measured in terms of the availability of goods and services per capita.

• D) Factor Income is the income earned by the factors of production (land, labor, capital, and entrepreneurship). It is (III) known as earned income.