EduFarming
Your list · 0हिं

Type at least two letters. Press Esc to close.

↑↓ navigate↵ openTAB cycle filter

National Income Aggregates & GDP · Question 56 of 69

Question 56

MediumOriginal question

A GDP deflator of 80 means that, compared with the base year, prices on average are

Options for question 56

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. The base year is 100; 80 is 20 below it.

  2. So nominal GDP is below real GDP: prices fell.

Concept
A deflator below 100
Typical time
70 s
Your time
—
The rule this testsReal and nominal GDP
Practise this chapter →

Ten questions from National Income Aggregates & GDP, at your own pace.

Practise this chapter →

Ten questions from National Income Aggregates & GDP, at your own pace.

Practise this chapterAll 69 questions in National Income Aggregates & GDPRevise the notes for National Income Aggregates & GDP