state gov TSPSC Group 2 (తెలంగాణ గ్రూప్ 2) Mock Test Series General Knowledge Economy National Income Accounting
With reference to the GDP Deflator, consider the following statements:
1. The GDP Deflator measures the average change in prices of all goods and services produced in the economy.
2. Reserve Bank of India uses a GDP deflator while formulating the monetary policy of India.
3. Changes in consumption patterns or the introduction of goods and services are automatically reflected in the GDP deflator.
Which of the statements given above is/are correct?
1
1 and 2 only
2
3 only
3
1 and 3 only
4
1, 2 and 3