CSE EXAM ( UPSC prelims mains) CAPF

✅Gross Domestic Product (GDP) : GDP is defined as total market value of all final goods and services in an economy. It is used to assess the size of economy.

✅Growth of GDP : It can be either due to increase in actual production or due to increase in prices of goods and services or combination of both the above two factors.

✅Nominal GDP : It is the value of GDP at the current prevailing prices.

✅Real GDP : It is the value of GDP at some constant set of prices.

Real GDP growth rate = Nominal rate – Inflation (GDP Deflator)

✅The GDP deflator : It is the ratio of nominal to real GDP.

GDP Deflator = Nominal GDP / Real GDP

#economy
#pre_revision

Join @CSE_EXAM
@upsc_4_economy

👍16❤1🔥1👌1

www.tgoop.com/CSE_EXAM/37124

8.43K viewsedited  Apr 12, 2024 at 06:15

✅Gross Domestic Product (GDP) : GDP is defined as total market value of all final goods and services in an economy. It is used to assess the size of economy.

✅Growth of GDP : It can be either due to increase in actual production or due to increase in prices of goods and services or combination of both the above two factors.

✅Nominal GDP : It is the value of GDP at the current prevailing prices.

✅Real GDP : It is the value of GDP at some constant set of prices.

Real GDP growth rate = Nominal rate – Inflation (GDP Deflator)

GDP Deflator = Nominal GDP / Real GDP

BY CSE EXAM ( UPSC prelims mains) CAPF