The Gross Domestic Product, or simply GDP, is the sum of the prices of all the finished products that a country produces, and it serves to measure the economic state of each nation and the world.
But if it is the sum of prices, it will necessarily also be affected by inflation or deflation, causing GDP to not show real growth or decline in the economy.
That is why economists divided GDP into two types: Nominal GDP and Real GDP.
In this video I explain what each one is, why they were divided and how they are calculated.
Thank you!
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12 сен 2024
