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What is GDP and How Exactly Is GDP Calculated?
For example ... As a result, some GDP calculations may notably underestimate a country’s true production. There are also two distinct GDP figures: Nominal and real GDP. Real GDP takes inflation ...
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What Is Gross Domestic Product (GDP)? Definition and FAQ
Real GDP is calculated using a GDP price deflator, which is the difference in prices between the current year and the base year. For example, if prices rose by 5% since the base year, then the ...