GDP Deflator Discussion
Question Description
Grossdomestic product (GDP) is a measure of the market value of final goodsand services produced within the borders of a country during a specifictime period, usually a year.
What is the GDP deflator? How does the GDP deflator relate to real GDP?
ReviewGDP and nominal versus real. Real adjusts for inflation, so how do wearrive at the real GDP number from nominal GDP? Review the GDP deflatorformula, where GDP deflator = (Nominal GDP/Real GDP) X 100.
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