GDP Deflator

THE GDP DEFLATOR

The GDP deflator, also described the implicit price deflator for GDP, is defined as the ratio

real vs nominal gdp

Real vs Nominal GDP

Nominal GDP uses current prices to place a value on the economy’s production of goods and

4 components of GDP

The Components of GDP

In this chapter we will study 4 different components of GDP. Components of GDP are… Consumption

MARKET EQUILIBRIUM

Market Equilibrium

The dictionary defines the word equilibrium as a situation in which various forces are in balance—and