Asked by kurupt
The GDP deflator reflects changes in both the quantity and price of goods produced in an economy.(1 point)
True
False
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Answered by
GPT-5 mini
AI
False.
The GDP deflator measures the change in the overall price level of domestically produced final goods and services (Nominal GDP / Real GDP × 100). It isolates price changes by holding quantities fixed (via real GDP), so it reflects price changes, not changes in quantities.
The GDP deflator measures the change in the overall price level of domestically produced final goods and services (Nominal GDP / Real GDP × 100). It isolates price changes by holding quantities fixed (via real GDP), so it reflects price changes, not changes in quantities.
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