Question

what is sri lanka's gdp deflator if its nominal gdp is $88.9 billion (in current us$) and the real gdp is $59.34 billion?

Answer 1

Sri Lanka's GDP deflator is 149.8.

What is meant by GDP deflator?

The implicit price deflator, commonly referred to as the GDP deflator, is used to calculate inflation. It is used to estimate the prices at which newly generated, domestically produced final goods and services will be sold in a nation over the course of a year.

In order to measure inflation, GDP deflector is combined with the Consumer Price Index (CPI) because it indicates changes in the economy's average price levels.

Real GDP and nominal GDP are the two significant parts of the GDP deflator.

The nominal gross domestic product (GDP) represents the monetary value of all goods and services produced in an economy and is calculated at current prices, whereas the real gross domestic product (GDP) represents the monetary value of all finished goods and services in an economy calculated at constant prices.

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