How to calculate Real GDP from Nominal GDP rate ?
What economic indicators do I need to know, to calculate Real GDP from Nominal GDP ?
To calculate Real GDP from Nominal GDP, you to need know GDP deflator value. The GDP deflator is the measure of the price level.
The price level can be affected by inflation or deflation. The difference between GDP deflator and the Consumer price index (CPI) is often quite small.
The price level can be affected by inflation or deflation. The difference between GDP deflator and the Consumer price index (CPI) is often quite small.
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