Civil Services UPPSC RO ARO 2024-25 Mock Tests Series General Knowledge Economy National Income Accounting
Consider the following statements regarding the GDP deflator:
1. If the value of the GDP deflator is greater than 1 then it means that the nominal GDP is higher than the real GDP.
2. GDP deflator takes into account all the goods and services that are produced in the country.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2