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    • Question

      The concept of ‘resident unit’ involved in the

      definition of GDP denotes
      A A business enterprise which belongs to a citizen of India with production units solely situated in India Correct Answer Incorrect Answer
      B The unit having predominant economic interest in the economic territory of the country for one year or more irrespective of the nationality or legal status Correct Answer Incorrect Answer
      C A citizen household which had been living in India during the accounting year and one whose economic interests are solely in India Correct Answer Incorrect Answer
      D Households and business enterprises composed of citizens of India alone living in India during the accounting year Correct Answer Incorrect Answer

      Solution

      A “resident unit” in GDP means any unit (household, enterprise, government body) having a predominant economic interest in the domestic territory for ≥ 1 year, regardless of nationality.

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