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If nominal GDP is, for example, \$1,620 billion in 2017 and increases to \$1,680 billion in 2018, is the growth rate 3.7%? Or does real GDP first need to be calculated using a deflator?

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  • $\begingroup$ Are you asking if this (reporting real GDP grown) is usually the case? Or are you asking about some specific context? $\endgroup$
    – Fizz
    May 2 '19 at 12:43
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As you pointed out, you need to distinguish between real and nominal GDP. The 3.7% growth from 1620 to 1680 is the nominal growth. To figure out real growth, you need to know the price index of the two years.

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