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By nominal GDP:

U.S. and China.

By PPP GDP:

U.S. and China.

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By nominal GDP:

U.S. and China.

By PPP GDP:

U.S. and China.

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Nominal GDP is GDP evaluated at current market prices. Therefore , nominal GDP wil include of the changes in market prices that have occurred during the current year due to inflation or deflation.

Nominal GDP= GDP deflator.real GDP/100

Real GDP is GDP evaluate at the market price of some base year.

GDP deflator --- Using the statistics on real GDP and nominal GDP, one can calculate an implecit index of the price level for the year. This index is called GDP deflator.

GDP deflator = nominal GDP/real GDP .100

The GDP deflator can be viewed as a conversion factor that transform real GDP into nominal GDP. Note that in the base year, real GDP is by definition equal to nominal GDP so that the GDP deflator in the base year equal to 100.

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When the nominal GDP increases it implies that prices have increased. Nominal GDP is current prices and real GDP takes prices changes into account.

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through inflation as nominal GDP does not account for it

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Denmark is seventh in the list of countries by GDP.

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