Examlex
Select the most accurate statement about team writing.
GDP Deflator
An indicator of the price levels for all fresh, domestically created, final goods and services within an economy, utilized to modify nominal GDP for the determination of real GDP.
Real GDP
The total value of all goods and services produced within a country, adjusted for inflation, over a specific time period.
Percentage Change
A mathematical calculation that shows how much a quantity has increased or decreased as a proportion of its previous value.
GDP Deflator
An economic measure of inflation that divides the nominal GDP by the real GDP and multiplies by 100, showing how much prices have changed over a specified time.
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