Economics · National Income
What does the 'basket' used to calculate the GDP deflator each year consist of?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1All goods and services produced internationally, weighted by the quantity of each good
- 2All goods and services produced domestically, weighted by the quantity of each good
- 3All goods and services produced internationally, weighted by the market value of total consumption of each good
- 4All goods and services produced domestically, weighted by the market value of total consumption of each good✓
Correct answer
All goods and services produced domestically, weighted by the market value of total consumption of each good
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice National Income MCQs →Want more practice questions on National Income?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · National Income