GDP deflator?

Q: On which basis the GDP of the country is decided?

A: Gross domestic product (GDP): It is the value of all finished or final goods and services produced…

Q: In measuring GDP, which of the following is NOT a factor payment? a. Government's transfers payment…

A: Factor payment approach to calculate GDP includes all factor payments earned by households, that is…

Q: What distinguishes national income, GNP, and NNP

A: The total factor incomes earned and received inside the domestic economy's territory make up the…

Q: Does the GDP really measure happiness? Why or why not?

A: Gross Domestic Product is the value of all goods and services that are produced within the…

Q: The GDP deflator of the country is 1.5 and it's nominal GDP is 800 million. Calculate the real gdp.

A: Given GDP deflator = 1.5 Nominal GDP = 800 million Real GDP = ?

Q: GDP is an important measure of economic activity, telling us about production as well as employment…

A: Gross domestic product (GDP) is the standard measure of the value added created through the…

Q: In an economy, Real GDP (base year = 1996) is $100 billion and the Nominal GDP is $150 billion.…

A: Gross Domestic Product GDP is the sum total of all goods and services that are produced by the…

Q: Why do we need to compute both nominal and real GDP?

A: Nominal GDP refers to the total value of final goods and services produced in an economy during a…

Q: Which is better for making comparisons over time, nominal GDP or real GDP, and why?

A: The measure that depicts the final values of production of services and goods within a certain time…

Q: What is gdp and how do I calculate it?

A: The Gross Domestic Product (GDP) is the measurement of the monetary value of all the final goods and…

Q: In 2003, the economy of Boonton’s nominal GDP was $1300 and its GDP deflator was 200. Calculate…

A: Nominal GDP includes both the growth and prices. Real GDP shows only the growth in the economy. Real…

Q: Nominal GDP does not include inflation?

A: GDP measures the market value of all goods and services produced in the economy.

Q: Find Nominal GDP if GDP deflator is 136 and real GDP is $16,000

A: The data presented in the question above is:- GDP deflator = 136 Real GDP = $16,000 Nominal GDP is…

Q: Explain why comparing the GDPs of various nations might not tell you which nations are better off.

A: When talking about GDP of an economy, I can be said that the value of GDP provide information about…

Q: if the GDP deflator is 125 and the nominal GDP is 130 billion then what is the real GDP

A: Nominal GDP(NGDP) is the GDP at current prices(P). It does not account for changes in the price(P)…

Q: How are nominal and real GDP calculated?

A: Nominal GDP refer to the market value of all final goods and services produced in an economy during…

Q: Why the intermediate goods are not included in measuring GDP

A: Intermediate goods are those goods which are not used for final consumption but used as input to…

Q: The real GDP is $2300 million and the value of Nominal GDP is $2700 million Calculate GDP deflator

A: The given information is as follows:- Nominal GDP = $2700 million Real GDP = $2300 million We need…