CUET Preparation Today
The ratio of nominal to real GDP refer to which economic concept? |
National Product. Wholesale Price Index. Consumer Price Index. GDP deflator. |
GDP deflator. |
The correct answer is Option (4) → GDP deflator. The GDP deflator is the ratio of nominal GDP to real GDP, multiplied by 100. It measures the overall level of price changes in an economy and shows how much of the rise in nominal GDP is due to an increase in prices rather than an increase in actual output. It is a broad indicator of inflation within the economy. |
