Question 16 (a) - CBSE Class 12 Sample Paper for 2023 Solutions - Economics - Solutions to CBSE Sample Paper - Economics Class 12

Last updated at Dec. 13, 2024 by Teachoo

Define Gross Domestic Product (GDP) deflator and discuss its importance.

Answer:

GDP Deflator is the ratio of Nominal to Real GDP. It is a tool which is used to eliminate the effect of price fluctuations in the economy and to determine the real change in physical output of current year. GDP deflator helps in comparison of growth rate of the economy.

Next: Question 16 (b) → Go Ad-free

Made by

Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years and a teacher from the past 18 years. He teaches Science, Economics, Accounting and English at Teachoo

Class 6

Class 7

Class 8

Class 9

Class 10

Class 11

Class 12

Courses

Interesting

Popular