GDP Quiz
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Last updated 12:52 AM on 10/31/25
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8 Terms
1
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What is the equation for GDP deflator
Nominal/Real * 100
2
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How to calculate real GDP growth
( real y2- real y1)/ real y1
3
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How to calculate Nom GDP Δ
Nominal y2- nominal y1 /nominal y1 × 100
4
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What is included in GDP
Consumer spending
Investment by business
Government Spending
Net Exports
5
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What is not included in real GDP
Illegal Activities
Non-product interaction (Buying Stock)
Intermediate/Used Goods (except Businesses like goodwill count)
6
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Does increasing inventories count in GDP
yes as investment for companies
7
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What is one way to calculate real GDP
(nominal GDP)/GDP deflator x 100
8
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How do you calculate output growth?
(Real GDP 2 -Real GDP 1)/Real GDP 1
Note 
Flashcards (32)