Answer :

Nominal GNP = Rs.2500

Real GNP = Rs.3000


GNP deflator = (Nominal GNP/Real GNP) X 100


= (2500/3000) X 100


= 83.33%


No, the price level has not risen but fallen down by 16.67 % [(100 - 83.33) %].


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

Calculate nationaEconomics - Board Papers

Define flows.

Economics - Board Papers

National income iEconomics - Board Papers

Calculate net natEconomics - Board Papers

Find Gross Economics - Board Papers