Difference between revisions of "GDP deflator"
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[GDP deflator]]. A measure of inflation based on all the components of GDP. | :[[GDP deflator]]. A measure of inflation based on all the components of GDP. | ||
| + | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
| + | :[[GDP deflator]]. The ratio of nominal GDP to real GDP; a measure of the overall level of prices that shows the cost of the currently produced basket of goods relative to the cost of that basket in a base year. | ||
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 15:18, 2 July 2020
- GDP deflator is a measure of inflation based on all the components of GDP.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- GDP deflator. A measure of inflation based on all the components of GDP.
According to Macroeconomics by Mankiw (7th edition),
- GDP deflator. The ratio of nominal GDP to real GDP; a measure of the overall level of prices that shows the cost of the currently produced basket of goods relative to the cost of that basket in a base year.
