Question

What is the GDP deflator?How is it calculated

Answer 1

The economy's GDP price deflator would be calculated as ($10 billion / $8 billion) x 100, which equals 125. ... This is because an economy's real GDP is calculated by multiplying its current output by its prices from a base year. So, the GDP deflator helps identify how much prices have inflated over a specific time period

Answer 2

Answer:

The GDP deflator is calculated by dividing nominal GDP by real GDP and multiplying by 100. GDP Deflator Equation: The GDP deflator measures price inflation in an economy. It is calculated by dividing nominal GDP by real GDP and multiplying by 100.

Explanation:

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