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Economics Macroeconomics

The GDP deflator is a measure of the

QUESTION

The GDP deflator is a measure of the

  1. average level of prices of final goods and services in the economy.
  2. average level of prices of intermediate goods and services in the economy.
  3. total production of the economy unadjusted for inflation.
  4. total production of the economy adjusted for inflation.

ANSWER

The correct option is 1. average level of prices of final goods and services in the economy.

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