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ECONOMISTS HELP
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Estonia whosmans 
prntscr.com/r89usd HOW DO I SOLVE THYIS STUFF
2020-02-27 05:46
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Bruh, this is like indroductory macroeconomics
2020-02-27 05:48
#4
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Estonia whosmans 
thats the point nooobbbb
2020-02-27 05:51
Nominal GDP: (P*Q) for both of the goods and add them Real GDP: (price of the base year * quantity of the new year), for both goods and add them GDP Deflator: Nominal GDP/ Real GDP *100
2020-02-27 05:58
#6
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Estonia whosmans 
how would that work for real gdp? I can see nominal and gdp deflator easily, but i dont understand real gdp's calculation. I would appreciate an explanation if possible
2020-02-27 06:03
In your problem you are given a base year, 2016 in this example. Since this is the base year, Nominal GDP and Real GDP will be the same there For 2018, the prices change. This is, at least in these examples, due to inflation. In order to adjust for inflation, you ignore the "new" prices, and use the ones from the base year. This doesn't mean anything for 2017, because prices stayed the same. But for 2018, prices went up. To solve for Real GDP, ignore this price increase and use the original 2016 prices (2016 prices * 2018 quantities)
2020-02-27 06:07
#9
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Estonia whosmans 
am i just doing base price * whatever year quantity then instead of whatever year price * whatever year quantity?
2020-02-27 06:07
For Real GDP, yes. For Nominal GDP, you do the 2018 price * 2018 quantities
2020-02-27 06:08
#11
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Estonia whosmans 
ok thank you, makes sense
2020-02-27 06:08
#18
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India mr_magician 
the logic behind is that nominal gdp includes inflation while real gdp doesn't. real gdp just compares the quantity of production (hence same price for each year,i.e. the base year price) and nominal gdp compares the value of production (hence prices of the corresponding year)
2020-02-27 06:54
#7
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Estonia whosmans 
like lets say i calculate it for each year 2016: (1 * 200) + (2*100) 2017: (1 * 200) + (2 * 100) 2018: (1 * what is the next quantity?) + (2 * what is the next quantity?)
2020-02-27 06:06
#12
Nippo | 
Japan arubaito 
i remember i studied similar stuff when i was in highschool but ok
2020-02-27 06:09
#13
daps | 
North America JC_123 
think about what GDP means and what these numbers tell you
2020-02-27 06:12
Already forgot everything xD
2020-02-27 06:39
how do fail at such basic shit.
2020-02-27 06:48
#17
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Estonia whosmans 
i did it noob relax
2020-02-27 06:50
SKADE
1.80
Endpoint
1.97
Gambit Youngsters
3.04
Heretics
1.38
Alma
3.82
Bravos
3.22
Bet value
Amount of money to be placed
Winning
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