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What is Real GDP?

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Magnani
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Post: #1
What is Real GDP?

As Title, I haven't understood what does real GDP means.

06.06.2020 07:31
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MrProper
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Post: #2
RE: What is Real GDP?

In contrast to the "normal" GDP, "Real GDP" is inflation-adjusted. It allows a player to realistically compare the GDP of his/her own state with those of others.

This states GDP, for example, is larger than that of the average state. Thanks to the Real GDP, you can however see that is mostly due inflation. The Real GDP itself is lower than that of the average state.


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07.06.2020 10:09
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WilliamVC
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Post: #3
RE: What is Real GDP?

Magnani Wrote:
As Title, I haven't understood what does real GDP means.


I'm not sure how the country's GDP is calculated

09.06.2020 12:02
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boob
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Post: #4
RE: What is Real GDP?

WilliamVC Wrote:

Magnani Wrote:
As Title, I haven't understood what does real GDP means.


I'm not sure how the country's GDP is calculated


Gdp growth -inflation i think

09.10.2020 06:31
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velazquez
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Post: #5
RE: What is Real GDP?

I'm not sure how gdp is calculated in the game, but in economics I know it is calculated through the following equation: GDP= C+G+I+NX where C is private consumer spending (Private consumption) G is total government expidentures, I is the total capital investment in the country (Capital), and NX is net exports (if you import this number would be negative, as you subtract exports-imports). Hopefully this helps!

02.12.2020 16:09
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Errror42
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Post: #6
RE: What is Real GDP?

GDP= C+G+I+NX is correct

nominal GDP: C+G+I+NX of the current quarter
real GDP: C+G+I+NX - all inflation yet
or rather
real GDP = nominal GDP / inflation index

The real GDP is calculated by valueing the goods produced in the current quarter by the price index of the first quarter.

This post was last modified: 03.12.2020 14:23 by Errror42.

03.12.2020 14:10
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