Macro

National Income

Easy

The value of nominal GDP is $1100 and the value of real GDP is $1000. Find the value of GDP deflator.

0.9

1.1

0.8

✅ Correct Option: 2

The GDP deflator measures the price level of all domestically produced final goods and services.

It is calculated as (Nominal GDP ÷ Real GDP).

Here, 1100 ÷ 1000 = 1.1.

A deflator of 1.1 indicates that prices have increased by 10% compared to the base year, as nominal GDP exceeds real GDP due to price inflation.

2022: 19 July Shift 2

Which out of the following are intermediate goods ?

(A) Milk purchased by a household

(B) Sugar purchased by a restaurant

(D) Chalk and duster purchased by school

(E) Printer purchased by a lawyer

Choose the correct answer from the options given below :

2025: 13 May Shift 2

The ratio of nominal to real GDP refer to which economic concept?

2026: 21 May Shift 1

Match List-I with List-II

Choose the correct answer from the options given below:

2025: 28 May Shift 2

The current transfers from the rest of the world such as gifts, aids, etc. are included in ________.

2026: 12 May Shift 1

To get gross domestic product at a factor cost (GDP_FC), which among the following should be deducted from GDP at market price (GDP_MP).

2026: 11 May Shift 1

Calculate the NDP at market price of the closed economy from the given table values.

Solution