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National Income Accounting

Question
CBSEENEC12013355
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What is GNP deflator?

Solution
It is a statistical tool used to measure the average level of prices of all goods and services. Symbolically:
GNP space Deflator space equals space fraction numerator Nominal space GNP over denominator Real space GNP end fraction space cross times space 100

Some More Questions From National Income Accounting Chapter

Briefly explain the following basic concepts related to NI:
Consumption Goods and Capital Goods

Briefly explain the following basic concepts related to NI:
Flow and Stock Concepts

Briefly explain the following basic concepts related to NI:
Gross Investment and Net Investment

Briefly explain the following basic concepts related to NI:
Domestic (Economic) Territory

Briefly explain the following basic concepts related to NI:
Normal Residents

Briefly explain the following basic concepts related to NI:
National Income at Current and Constant Prices (Nominal and Real NI).

Briefly explain the following basic concepts related to NI:
Consumption of Fixed Capital (Depreciation).

Briefly explain the following basic concepts related to NI:
Factor Cost vs. Market Price (or Net Indirect Taxes)

Briefly explain the following basic concepts related to NI:
Net Factor Income from Abroad (NFIA)

Briefly explain the following basic concepts related to NI:
Value of Output vs. Value Added

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