The table below shows the index of National Income measured at current prices (nominal national income) and the GDP deflator (a price index) for an economy.
| Year | Index of National Income at current prices (2018 = 100) | GDP Deflator (2018 = 100) |
|---|---|---|
| 2014 | 80 | 80 |
| 2024 | 120 | 110 |
Based on the table, which one of the following statements is correct for the period between 2014 and 2024?
Nominal national income rose by 40%40\%40%.
Real national income rose by less than 10%10\%10%.
Real national income rose by more than 40%40\%40%.
Nominal national income rose by less than 50%50\%50%.
187 exam-style questions on AQA A Level Economics 2.1 The measurement of macroeconomic performance, covering 2.1.1 The objectives of government economic policy, 2.1.2 Macroeconomic indicators, 2.1.3 Uses of index numbers, and 2.1.4 Uses of national income data (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.