Question

Hwo to calculate per capita real gdp through gdp deflator and nominal gdp

Answer 1

Answer:

It is calculated by dividing Nominal GDP by Real GDP and then multiplying by 100. (Based on the formula). Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation. Real GDP is nominal GDP, adjusted for inflation to reflect changes in real output.

Explanation:

Answer 2

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GDP stands for Gross Domestic Product.

• It is the sum total of all final goods and services produced in a country during a particular year. It shows how big the economy is.
• It is the sum of production in all sectors.in india this mammoth task is undertaken by central govt. ministry.
• It collects information with the help of various govt. departments of all states and union territories.

GDP = C + I + G + (X – M)

where

• C = private consumption
• I = gross investment
• G = government investment + government spending
• X = exports
• M = imports