Asked by

Natalia Rodriguez
on Dec 17, 2024

verifed

Verified

Changes in the GDP deflator reflect only changes in the prices of goods and services.

GDP Deflator

A measure used to adjust the gross domestic product (GDP) for inflation by dividing the nominal GDP by the real GDP and then multiplying by 100.

  • Comprehend the idea of the GDP deflator being a tool to measure variations in price levels and the methodology for its calculation.
verifed

Verified Answer

AM
ashley mattaDec 18, 2024
Final Answer:
Get Full Answer

Related questions

If Nominal GDP Is $10,000 and Real GDP Is $8,000 ...

Nominal GDP Uses Constant Base-Year Prices to Place a Value ...

If Real GDP and the GDP Deflator Both Rise, Then ...

In the US, When the Price of Oil Rises, the ...

When the Price of Italian Wine Rises, This Change Is ...