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Economics

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How do you calculate the growth rate of real GDP between two years?

  • Economics -

    [GDP(yr. 2)-GDP(yr. 1)]/GDP(yr. 1)
    Convert that fraction to %

    The GDP deflator (published by the Dept of Commerce) must be applied to the actual GDP to get real GDP

    http://cost.jsc.nasa.gov/inflateGDP.html

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