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janice has calculated the gdp for 2018 by using the total final goods and services times the 2018 prices of total goods and services. if janice wishes to create a real value gdp value for 2018, what must she do?

Respuesta :

Janice must account for inflation in the overall value of 2018 GDP.

How do I determine real GDP?

In general, real GDP is calculated by dividing gdp by the Deflator (R). For example, if prices in an economy have risen by 1% since the baseline year, the deflated number is 1.01. If nominal GDP is $1 billion, then real GDP equals $1,000,000 / 1.01 = $990,099.

The factors of production needed to create output, products and services acquired by the ultimate consumers, and the sum of all exports plus imports are the final goods or services used to compute GDP.

real GDP is an inflation-adjusted measure of a country's gross domestic output.

learn more about real GDP refer

https://brainly.com/question/17110800

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