WBCS.LIVE practice question

Each of the following statements includes two terms. In three cases, the two terms mean the same as each other. In which of the following cases do the two terms NOT mean the same as each other?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. The base period and the reference period
  2. Nominal GDP and GDP at current prices
  3. Changes in real GDP and the GDP deflator
  4. Real GDP and GDP at constant prices

Correct answer and explanation

Correct answer: Changes in real GDP and the GDP deflator