Civil Services UPPSC RO ARO 2024-25 Mock Tests Series General Knowledge Economy National Income Accounting
Consider the following statement regarding GDP deflator:
1. When the GDP deflator is less than unity, nominal GDP is less than real GDP.
2. GDP deflator is available only annually with a long lag over one year and hence has very limited policy use.
Which of the statement given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2