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20 October, 13:38

Which of the following is the correct way to calculate real GDP?

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  1. 20 October, 15:31
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    The formula for real GDP is nominal GDP divided by the deflator:

    R = N/D.

    For example, real GDP was $17.096 trillion in 2017. The nominal GDP was $19.391 trillion. The deflator was 1.13421.

    $17.096 trillion = $19.391 trillion / 1.13421.
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