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"The Ministry of Statistics… (Class 12 Economics 2026, Q1)

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EconomicsCBSE Class 12 · Board exam 2026, set 58/5/1 · 1 mark · MCQ

CBSE Class 12 Economics 2026: question 1

Set in the CBSE Class 12 board exam of 2026, paper 58/5/1, section A, question 1, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q1 · 1 mark · MCQCompetency-basedNational Income Accounting

"The Ministry of Statistics and Programme Implementation (MoSPI) is underway to revise the base year of Gross Domestic Product (GDP). The base year is revised periodically to better capture the structural changes happening in the economy. The proposed new base year for the GDP is 2022 – 23."

The step taken by the Government of India is for revision of ___________ Gross Domestic Product (GDP), as it is measured at ___________ prices. (Choose the correct option to fill in the blanks)

  1. (A)Real, constant
  2. (B)Nominal, current
  3. (C)Real, current
  4. (D)Nominal, constant

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 58/5/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

Which GDP measure is valued at the prices of a chosen year?

Hint 2

Nominal GDP is at current prices.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. A base year matters only for a GDP series that values output at the prices of a fixed year. Nominal GDP uses each year's own (current) prices and needs no base year.

  2. Revising the base year therefore revises real GDP, which is measured at constant (base-year) prices. Option (A).

    1 mark

Answer: (A) Real, constant

Where the marks are

  • Base year is used for real GDP at constant prices (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from National Income Accounting, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 58/5/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.