define gross domestic product (gdp) deflator and discuss its importance. state and discuss any two precautions to be considered while estimating national income by expenditure method.

a) The GDP deflator measures inflation and is crucial for economic policy.
b) The GDP deflator measures inflation and is insignificant for economic policy.
c) The GDP deflator measures unemployment rates and is crucial for economic policy.
d) The GDP deflator measures unemployment rates and is insignificant for economic policy.