Consider the following statements about GDP deflator:
1. It reflects the prices of all domestically produced goods and services in the economy.
2. It varies with the level of production of goods.
3. Monthly change in inflation cannot be tracked using GDP deflator.
Which of the above statements is/are correct?1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
1, 2 and 3