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Consider the following statements related to GDP Deflator : A. GDP deflator is a measure of rate of inflation in the economy. B. It is the ratio of GDP at current prices to GDP at constant prices. C. Nominal GDP is equal to real GDP in the base year. D. The GDP deflator is used to convert nominal variables into real variables. Which of the statements given above are correct?
Correct Answer: (d)
Official keyThis question appeared in the KPSC Prelims 2024 examination (GS). It is Question 42 out of 200 questions in this paper.
This question was part of the KPSC Prelims 2024 (GS). The KPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all KPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.