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What is the GDP of Lichtenstein?

Updated: 4/28/2022
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13y ago

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Lichtenstein is a ruined castle in the southern German state of Wuerttemberg. Liechtenstein (different spelling) is a very small country in Central Europe.

Thus to ask for the GDP and other questions of that kind is moot.

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13y ago
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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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