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Real and nominal GDP

3 videos
The value of a currency is constantly changing (usually going down in terms of what you can buy). Given this, how can we compare GDP measured in dollars in one year to another year? This tutorial answers that question by introducing you to real GDP and GDP deflators.

Real GDP and nominal GDP

VIDEO 8:04 minutes
Using real GDP as a measure of actual productivity growth

GDP deflator

VIDEO 6:28 minutes
Relationship between the GDP deflator, nominal GDP and real GDP

Example calculating real GDP with a deflator

VIDEO 5:39 minutes
Simple example of calculating Real GDP from Nominal GDP