Economics · National Income Accounting
With reference to the computation of real GDP, which of the following statement(s) is/are correct? (I) The GDP deflator is preferred as compared to WPI and CPI. (II) The GDP deflator covers the entire range of goods and services produced in the economy.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither (I) nor (II)
- 2Both (I) and (II)✓
- 3Only (II)
- 4Only (I)
Correct answer
Both (I) and (II)
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