Home
Class 12
ECONOMICS
The value of the nominal GNP of an econo...

The value of the nominal GNP of an economy was Rs. 2500 crores in a particular year. The value of GNP of that country during the same year, evaluated at the prices of some base year, was Rs. 3000 crores. Calculate the value of the GNP deflator of the year in percentage terms. Has the price level risen between the base year and the year under consideration ?

Text Solution

Verified by Experts

`GNP` deflator `=("Nominal GNP")/("Real GNP")xx100=2500/3000xx100=83.3%`
No, the price level has not risen between the base year and the year under consideration. Rather, it has fallen.
Promotional Banner

Topper's Solved these Questions

  • MEASUREMENT OF NATIONAL INCOME : METHODS OF CALCULATING NATIONAL INCOME

    RADHA BHUGANA|Exercise VERY SHORT ANSWER TYPE QUESTION|9 Videos

  • MEASUREMENT OF NATIONAL INCOME : METHODS OF CALCULATING NATIONAL INCOME

    RADHA BHUGANA|Exercise SHORT ANSWER TYPE QUESTION|16 Videos

  • MEASUREMENT OF NATIONAL INCOME : METHODS OF CALCULATING NATIONAL INCOME

    RADHA BHUGANA|Exercise Value based Questions|4 Videos

  • INTRODUCTION- MACROECONOMICS

    RADHA BHUGANA|Exercise guidelines to NCERT questions|2 Videos

  • MONEY

    RADHA BHUGANA|Exercise Guidelines To NCRT Questions|2 Videos

Similar Questions

Explore conceptually related problems

The price value of the share of a company increased at the rate of 20% in a year and decreased at the rate of 10% in the next year. If the present value of the share is Rs. 1000, then what will be its value after 2 years ?

A new car costs Rs 360000. Its price depreciates at the rate of 10% a year during the first two years and at the rate of 20% a year thereafter. What will be the price of the car after 3 years?

A new car costs Rs 360000. Its price depreciates at the rate of 10% a year during the first two years and at the rate of 20% a year thereafter. What will be the price of the car after 3 years?

The value of a property increases every year at the rate of 5%. If its value at the end of 3 years be Rs 411540, what was its original value at the beginning of these years?

The price of a scooter was Rs 34,000 last year. It has increased by 20% this year.What is the price now?

The price of an article increases by 20% every year. If the difference between the price of the article at the end of the third year and at the end of the fourth year is Rs. 324, what is the price of the article at the end of the second year?