CUET CUET Economics 2024 - The value of Nominal GDP is USD 1100 and the value of Real GDP is USD 1000. Find the value of GDP deflator: | PYQs + Solutions | AfterBoards
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CUET Economics 2024

Economics
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National Income

Easy

The value of Nominal GDP is USD 1100 and the value of Real GDP is USD 1000. Find the value of GDP deflator:

Correct Option: 2
    \newline
  1. Nominal GDP -> current prices is USD 1100
    2. \newline
  2. Real GDP -> base year prices is USD 1000
    3. \newline
  3. GDP deflator = Nominal GDP / Real GDP -> calculate ratio
    4. \newline
  4. GDP deflator = 1100 / 1000 = 1.1

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