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Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.
A chained volume series is a series of economic data (such as GDP, GNP or similar kinds of data) from successive years, put in real (or constant, i.e. inflation- and deflation-adjusted) terms by computing the aggregate value of the measure (e.g. GDP or GNP) for each year using the prices of the preceding year, and then 'chain linking' the data together to obtain a time-series of figures from ...
Thus the left side gives GDP by the income method, and the right side gives GDP by the expenditure method. The GDP is given on the bottom line of both sides of the report. GDP must have the same value on both sides of the account. This is because income and expenditure are defined in a way that forces them to be equal (see accounting identity ...
A working paper by Robert J. Hodrick titled "An Exploration of Trend-Cycle Decomposition Methodologies in Simulated Data" [10] examines whether the proposed alternative approach of James D. Hamilton is actually better than the HP filter at extracting the cyclical component of several simulated time series calibrated to approximate U.S. real GDP ...
This is an alphabetical list of countries by past and projected Gross Domestic Product, based on the Purchasing Power Parity (PPP) methodology, not on market exchange rates.
In this example of a traditional IS–LM chart, the IS curve moves to the right, causing higher interest rates (i) and expansion in the "real" economy (real GDP, or Y). The IS–LM model, invented by John Hicks in 1936, gives the underpinnings of aggregate demand (itself discussed below). It answers the question "At any given price level, what ...
The following list includes the annual nominal gross domestic product for each of the 50 U.S. states and the national capital of Washington, D.C. and the GDP change and GDP per capita as of 2024. [1] [3] The total for the United States in this table excludes U.S. territories. The raw GDP data below is measured in millions of U.S. Dollars.
Real GDP can be used to calculate the GDP growth rate, which indicates how much a country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change. The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate.