- 16 Aug 2021 17:34
#15185810
Problem with real GDP is that it is nominal GDP adjusted by deflator, it is still the same nominal gdp though. Deflator in this case is basically USD or EUR from 2010 or whatever year. And this creates problems since nobody really buys and sells in 2010 Euros or Dollars.
I do not think that any nation is hopeless to change; however, I think that some nations do require a lot more effort than others to become changed. - Verv
wat0n wrote:I see, but even then those government run services are valued (usually at cost).
OTOH, if the real estate prices have gone up in China then this would be reflected in other measures of real estate activity.
@Rugoz indeed, but @JohnRawls is doing cross country comparisons in levels (absolute differences, but the same hold for ratios). I agree though that if you want to compare growth rates you are better off using a real GDP measure.
Problem with real GDP is that it is nominal GDP adjusted by deflator, it is still the same nominal gdp though. Deflator in this case is basically USD or EUR from 2010 or whatever year. And this creates problems since nobody really buys and sells in 2010 Euros or Dollars.
I do not think that any nation is hopeless to change; however, I think that some nations do require a lot more effort than others to become changed. - Verv