Question : The ratio between the nominal and real GDP is called ____.
Option 1: Net national income
Option 2: Value added GDP
Option 3: Green GDP
Option 4: GDP deflator
Correct Answer: GDP deflator
Solution : The correct option is the GDP deflator .
The GDP deflator is a measure that quantifies the extent of inflation or deflation in an economy by comparing the nominal GDP (current prices) to the real GDP (constant prices). It reflects the overall price changes in all goods and services produced, providing insights into the economy's inflationary or deflationary tendencies.
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