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GDP

Two primary ways in which GDP is measured are “Real GDP” and “Real GDP in Chain-Weighted Prices.” The first way on constructing the real GDP in base-year prices is to create a price deflator for every good that we can in the economy. That price deflator is defined as the ratio of the price for that good in some base year relative to the price of the good in the current year. The way of looking at GDP is termed the expendit...

Posted by: Carmen hershman

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