Paper I · 6 Indian Economy & Planning · 6.1.2 National income

6.1.2.4 Nominal and real GDP, the GDP deflator and per capita income

Nominal GDP uses current prices and moves with inflation, real GDP uses base-year prices and shows true output growth, and the GDP deflator is the ratio between them.

  • APPSC Paper I · Paper I
  • Advanced level
  • 6 min read
  • Full course

Key terms

  • nominal GDP
  • real GDP
  • base year
  • GDP deflator
  • CPI
  • WPI
  • per capita income
  • net national income
  • inflation

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

Read the full note in the app. It is part of the APPSC Paper I full course in Medha AI. Free in the app: the first chapter of each topic.

Read the full note in the app Indian Economy & Planning questions with answers

All National income notes · APPSC Paper I syllabus · APPSC Paper I Mock 1 with answers · Start free

Medha AI writes its own notes and checks them against the sources listed. Medha AI is an independent preparation service. It is not affiliated with, endorsed by or connected to APPSC, TSPSC, MPSC, UPSC or any other commission or government body.