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The ratio between the nominal and real GDP is called:

1. Net national income
2. Value added GDP
3. Green GDP
4. GDP deflator

Correct answer: GDP deflator

Solution

GDP Deflator = (Nominal GDP / Real GDP) × 100. Nominal GDP is measured at current prices; Real GDP is measured at base-year prices. The ratio = GDP Deflator, which captures economy-wide price changes. Net National Income adjusts for depreciation; Green GDP adjusts for environmental costs; Value Added GDP is GVA-based.

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