Help! (economics calculation) (1 Viewer)

[hesfb]

How do you calculate the real GDP for an economy?
I know its to do with the CPI but apart from that I've had a complete mind blank...

thanks

 

[sk8ie_boi]

Calculate your nominal GDP first, then simply minus the CPI (Inflation) away from the nominal GDP and you get Real GDP (GDP taking into account of inflation)

Or unless your asking about how to calculate the nominal GDP ... then, it's the sum of the production of the country. Like .... ummm your Y ... national income? ...

 

[hesfb]

no no it was real GDP I wanted
thank you so much