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Sticky Note
Each of the following statements includes two terms, in three cases, the two term mean the same as each other. In which case do the two terms not mean the same as each other?
مندرجہ ذیل میں سے کس صورت میں دونوں اصطلاحات ایک ہی معنی نہیں رکھتیں؟
  1. Changes in real GDP and the GDP deflator
  2. Nominal GDP and GDP at current prices
  3. Real GDP and GDP at constant prices
  4. The base period and the reference period
Explanation
  • In economics, some terms are equivalent (same meaning).
  • Nominal GDP = GDP at current prices.
  • Real GDP = GDP at constant prices.
  • Base period = Reference period (used for comparison).
  • But changes in real GDP ≠ GDP deflator (different concepts).

Last verified on 22-04-2026

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