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    Question

    Which of the following provides the measure of the general price inflation in an economy?

    A Gross National Product Correct Answer Incorrect Answer
    B Gross Domestic Product Correct Answer Incorrect Answer
    C Gross Value Added Correct Answer Incorrect Answer
    D GDP Deflator Correct Answer Incorrect Answer
    E Gross purchasing parity Correct Answer Incorrect Answer

    Solution

    The GDP deflator, also called implicit price deflator, is a measure of inflation. It is the ratio of the value of goods and services an economy produces in a particular year at current prices to that of prices that prevailed during the base year,

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