BPSC (Bihar) Exam > BPSC (Bihar) Questions > Consider the following two statements:Stateme...
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Consider the following two statements:
Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.
Statement-II: India presently ranks as the world's fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).
Which one of the following is correct in respect of the above statements?
- a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)c. Statement-I is correct, but Statement-II is incorrect
- d)d. Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Consider the following two statements:Statement-I: GDP serves as a wid...
Explanation:
Statement-I:
- GDP serves as a widely-used metric for comparing global economies.
- The IMF ranks nations based on GDP sizes.
- It is a commonly accepted practice to use GDP as a measure of economic size and strength.
Statement-II:
- India presently ranks as the world's fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).
- This indicates that India's economic size and strength are significant on a global scale.
- The ranking based on GDP at exchange rates and PPP provides different perspectives on India's economic standing.
Conclusion:
- Both Statement-I and Statement-II are correct, as they provide insights into the significance of GDP in comparing global economies and India's current economic ranking.
- However, Statement-II does not directly explain Statement-I, as it focuses on India's specific position in the global economy rather than the general use of GDP as a metric.
Statement-I:
- GDP serves as a widely-used metric for comparing global economies.
- The IMF ranks nations based on GDP sizes.
- It is a commonly accepted practice to use GDP as a measure of economic size and strength.
Statement-II:
- India presently ranks as the world's fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).
- This indicates that India's economic size and strength are significant on a global scale.
- The ranking based on GDP at exchange rates and PPP provides different perspectives on India's economic standing.
Conclusion:
- Both Statement-I and Statement-II are correct, as they provide insights into the significance of GDP in comparing global economies and India's current economic ranking.
- However, Statement-II does not directly explain Statement-I, as it focuses on India's specific position in the global economy rather than the general use of GDP as a metric.
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Community Answer
Consider the following two statements:Statement-I: GDP serves as a wid...
- Statement-I: GDP is indeed a widely-used metric for comparing global economies, and the IMF ranks nations based on their GDP sizes. This is a correct statement.
- Statement-II: India's ranking as the world's fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP) is also accurate. However, this statement does not directly explain the significance or use of GDP in global comparisons, hence it does not explain Statement-I.
Therefore, both statements are individually correct, but Statement-II does not provide an explanation for Statement-I.
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Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer?
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Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer?.
Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for BPSC (Bihar).
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Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following two statements:Statement-I: GDP serves as a widely-used metric for comparing global economies, with the IMF ranking nations based on GDP sizes.Statement-II: India presently ranks as the worlds fifth-largest economy at exchange rates and third-largest at purchasing power parity (PPP).Which one of the following is correct in respect of the above statements?a)a. Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)b. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)c. Statement-I is correct, but Statement-II is incorrectd)d. Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice BPSC (Bihar) tests.
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