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The value of nominal GDP is $\$$1100 and the value of real GDP is $1000. Find the value of GDP deflator. |
0.9 1.1 1 0.8 |
1.1 |
The correct answer is Option (2) → 1.1 The ratio of nominal to real GDP is called GDP Deflator. GDP deflator = Nominal GDP/Real GDP = 1100/1000 = 1.1 |
