Calculation of NGDP, RGDP, GDP Deflator, Inflation Rate, and Economic Growth Rate

This video explains and walks you through the step-by-step calculation of Gross Domestic Product, Nominal GGP, Real GDP, GDP Deflator, Inflation Rate, and Economic Growth Rate.

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📚 FUNDAMENTALS OF DEMAND AND SUPPLY
This is a *FREE* ebook I wrote. It is a 122-page book written to provide proficiency in Demand-Supply analysis, in-depth knowledge, and a strong foundation in Economics, Mathematical-Economics, and Economics-related courses.
It is fine-tailored to help you pass your Economics courses excellently! The knowledge in it helped me graduate with a 3.86/4.00 CGPA (96.5%), High Honors (First Class) in Economics at Eastern Mediterranean University, and a 4.00/4.00 CGPA (100%) in my Master's Degree in Economics. The book contains my knowledge and understanding and was written to help you succeed. It is also very suitable for high school students (or secondary school students).

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⌚️ Timestamps:
0:00 - General GDP formula
1:05 - Nominal GDP
5:39 - Real GDP
12:08 - Nominal vs Real
13:29 - GDP Deflator
18:03 - GDP Deflator: Note
18:29 - Inflation Rate
24:59 - Economic Growth Rate
30:54 - Outro

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WHO AM I?
Hey there, 👋 I'm Musa. I recently just finished my Masters Program in Economics at Eastern Mediterranean University. I graduated (in February 2024) with a 4.00/4.00 CGPA.

Digital Marketing is my current focus; however, I still create videos on Economics videos. Because "the knowledge is in my head, there's no point in letting it sit there, so it's best to let others benefit from it."

Kindly subscribe to the channel and help us grow. It will warm my heart! 🤗

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[PrajwolShakya-..]

Thank you, Musa Nectar! I was having problem doing this kinds of question but now I am fully able to do it by my own. Love from 🇳🇵.

[lalsey]

You Really Helped With The Real Gdp For The Base Year Thank You So Much.

[elementaryfundamentals]

Thank you for clearly explaining how to use the formulas. I kept mixing things up and almost scored low on my exam!

[cartilo]

I am currently in my 2nd year of my Economics degree and this video was super helpful. I subscribed and I am excited to see you tackle more lessons (such as econometrics) in the future :)

[shishirahmed]

Thank you so much. It helped me before the exam

[fyori]

This was very helpful. Thank you! I like that it was organized and you made it so much easier to follow

[subhasnippets]

finally got everything in one video. Awesome !
thanks

[SalK-SK]

Very intelligently explained in one ‘window’👍

[a.v.manoharmanohar]

Very nicely explained and in a simple way. I got a good understanding of the topic. My best wishes to you for future endeavors. abundance.

[tammyakashambatwa]

Thank you so much, I enjoyed this lesson.

[SM.SaifMorshed]

Very practical and to the point explanation 👍

[ZaraSyed-mejp]

Its very helpful for me such a effective explanation 😊

[mumineozcelik]

Thank you very much hocam, this lesson is great 👌

[amissahisaac]

when calculating the economic growth rate why are you not using the base year of 2010?