Question : GDP deflator =
Option 1: (nominal GDP × Real GDP) × 100
Option 2: (nominal GDP + Real GDP) × 100
Option 3: (nominal GDP - Real GDP) × 100
Option 4: (nominal GDP / Real GDP) × 100
Answer (1)
14th Jan, 2024
Correct Answer: (nominal GDP / Real GDP) × 100
Solution : The correct option is (nominal GDP / Real GDP) × 100
The GDP Deflator represents the ratio of nominal GDP to real GDP (adjusted for inflation) and is expressed as a percentage. It is a useful tool for comparing economic output over time.
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