How To Calculate Nominal GDP Real GDP And GDP Deflator?
For instance, if prices in an economy have risen by 1% since the base year, the deflated number is 1.01. If nominal GDP is $1 million, real GDP equals $1,000,000 divided by 1.01, or $990,099. How do you convert nominal GDP to real GDP? What proportion of the growth in GDP is due to inflation […]
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