Question 18 of 31
Q.Define GDP deflator.
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2023Subjective· 2mImportance★★★★★
58% · 18/31 Questions
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Start your 14-day free trial to unlock the full solution →The GDP deflator = (Nominal GDP / Real GDP) × 100; it is a price index for all goods and services counted in GDP.
In the national-income topic of the Tamil Nadu HSC Commerce syllabus, the GDP deflator is a comprehensive measure of the price level.
- Nominal GDP is the value of output measured at current-year prices.
- Real GDP is the value of the same output measured at base-year (constant) prices.
The GDP deflator converts between the two:
GDP deflator = (Nominal GDP / Real GDP) × 100
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