An economy produces only apples and bananas. 2010: apple price 1 (qty 100), banana price 2 (qty 50); 2011: apple 1 (200), banana 2 (100); 2012: apple 2 (200), banana 4 (100). With 2010 as base year and the GDP deflator, which is CORRECT?
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National income accounting has come up 132 times in 6 exams since 2010.
This question is on Price indices: the GDP deflator and CPI, part of National income accounting in Macroeconomics.
How the price level and inflation are measured, and how the deflator differs from the CPI.
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Question from the IIT JAM 2023 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.