The GDP deflator is a measure of:
A) the overall change in prices in an economy,using the ratio between real and nominal GDP.
B) the overall change in output in an economy,based on goods and services valued at constant prices.
C) the overall change in prices in an economy,based on price-changes determined when output is held constant.
D) the overall change in output in an economy,using the ration between real and nominal GDP.
Correct Answer:
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Q103: Real GDP:
A)is calculated based on goods and
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Q104: Real GDP:
A)is calculated based on goods and
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A) paints a clearer picture
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Q122: GDP per capita:
A) is an average income
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