Question:
Define GDP deflator.
Author: Vimala BaluAnswer:
GDP deflator is an index of price changes of goods and services included in GDP. It is a price index which is calculated by dividing the nominal GDP in a given year by the real GDP for the same year and multiplying it by 100.
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Alternative answers:
GDP deflator = Nominal GDP/ Real GDP X 100
Author
Vimala Balu