state gov APPSC Group 4 (Pre+Mains) Mock Test 2022 General Knowledge Economy National Income Accounting
'Base year' in National Income accounting means –
1
The year whose income is being used to calculate the nominal GDP
2
The year whose prices are being used to calculate the nominal GDP
3
The year whose prices are being used to calculate the real GDP
4
The year whose income is being used to calculate the real GDP