For meaningful comparison common price level base is used because ........

Economics- Phase (I & II) National Income Accounting

Download Solution PDF

For meaningful comparison common price level base is used because

Domestic price is differ in different countries

100 GDP of one country is not same as 100 GDP of other country

Both

None

छोटे Courses बड़े Results

Master National Income Accounting

Prepare through Micro-courses

Try Now

Explanation:

A price level is the average of current prices across the entire spectrum of goods and services produced in the economy. In a more general sense, price level refers to any static picture of the price of a given good, service or tradable security. Price levels may be expressed in small ranges, such as ticks with securities prices, or presented as a discrete value.