问

问题如下：

A GDP deflator less than 1 indicates that an economy has experienced:

选项：

A.

inflation.

B.

deflation.

C.

stagflation.

解释：

B is correct.

The GDP Deflator = Nominal GDP/Real GDP. To get a ratio less than 1, real GDP exceeds nominal GDP, which indicates that prices have decreased and, accordingly, deflation has occurred.

考点：GDP deflator

解析： GDP Deflator = Nominal GDP/Real GDP

当GDP deflator小于1，意味着名义GDP已经小于真实的GDP，此时一国经济通常运行在通缩的阶段。