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GDP deflator. In economics, the GDP deflator (implicit price deflator) is a measure of the money price of all new, domestically produced, final goods and services in an economy in a year relative to the real value of them. It can be used as a measure of the value of money. GDP stands for gross domestic product, the total monetary value of all ...
Real gross domestic product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation). [1] This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely ...
Gross domestic product (GDP) is a monetary measure of the market value [2] of all the final goods and services produced and rendered in a specific time period by a country [3] or countries. [4][5][6] GDP is often used to measure the economic health of a country or region. [3] Deveral national and international economic organizations maintain ...
The real value is the value expressed in terms of purchasing power in the base year. The index price divided by its base-year value gives the growth factor of the price index. Real values can be found by dividing the nominal value by the growth factor of a price index. Using the price index growth factor as a divisor for converting a nominal ...
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 ...
It is the measure of the price level for some quantity. A deflator serves as a price index in which the effects of inflation are nulled. [1] [2] [3] It is the difference between real and nominal GDP. [4] [5] In the United States, the import and export price indexes produced by the International Price Program are used as deflators in national ...
Purchasing power parity (PPP) [1] is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies. PPP is effectively the ratio of the price of a market basket at one location divided by the price of the basket of goods at a different location.
UK and US monthly inflation rates from January 1989 [1][2] In economics, inflation is a general increase in the prices of goods and services in an economy. This is usually measured using a consumer price index (CPI). [3][4][5][6] When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation ...