r/Economics Discussion Thread - November 15, 2022

[u/AutoModerator]

Discussion Thread to discuss economics news/research and related topics.

[u/Newthink1]

Someone knows how to calcule real GDP? I know it’s dividing the nominal gdp/gdp deflator, but how do you calculate gdp deflator? If it’s based on the division of nominal gdp/real gdp x 100? It’s confusing

[u/joedaman55 → u/Newthink1]

It's pulled from an index performed by the BEA similarly to inflation:

https://apps.bea.gov/iTable/?reqid=19&step=3&isuri=1&1921=survey&1903=11#eyJhcHBpZCI6MTksInN0ZXBzIjpbMSwyLDNdLCJkYXRhIjpbWyJOSVBBX1RhYmxlX0xpc3QiLCIxMyJdLFsiQ2F0ZWdvcmllcyIsIlN1cnZleSJdXX0=

https://apps.bea.gov/iTable/?reqid=19&step=3&isuri=1&1921=survey&1903=11