Match the following 1 GDP Deflator ...........

Indian Economic System(PCS) Inflation

Match the following

1. GDP Deflator a) Measures the change in the prices received by a producer.

2. PPI-Producer b) Measures the change Price Index in price of a selection of goods at wholesale prior to retail sales excluding sales tax.

3. WPI c) Combination of inflation and rising unemployment due to recession.

Choose the correct code

(a) (b) (c)

1 2 3

3 1 2

2 3 1

3 2 1

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Explanation:

The Producer Price Index (PPI) is a weighted index of prices measured at the wholesale, or producer level. A monthly release from the Bureau of Labor Statistics (BLS), the PPI shows trends within the wholesale markets (the PPI was once called the Wholesale Price Index), manufacturing industries and commodities markets.

The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods. Some countries (like the Philippines) use WPI changes as a central measure of inflation.But now India has adopted new CPI to measure inflation.

In economics, the GDP deflator (implicit price deflator) is a measure of the level of prices of all new, domestically produced, final goods and services in an economy. GDP stands for gross domestic product, the total value of all final goods and services produced within that economy during a specified period.