Question : Which of the following reflects the growth of an economy?
Option 1: Nominal GDP
Option 2: Real GDP
Option 3: GDP deflator
Option 4: Current price index
Answer (1)
14th Jan, 2024
Correct Answer:
Real GDP
Solution :
Real GDP is better than national income as it reflects the growth of an economy. It is valued at constant prices.
Hence, Option B is correct
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