Mac3: CPI, nominal/real GDP, econ. growth, per capita GDP - Jeffrey See | Laabri

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A price index that measures the change in prices over time that consumers pay for a market basket of goods and services is called:

GDP deflator

CPI

FBI

PPI

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Real GDP measures output using current prices and therefore has not been adjusted for inflation.

Real GDP doesn't use prices in its calculation.

Nominal GDP measures output using current prices and therefore has not been adjusted for inflation.

Nominal GDP measures output using constant prices and therefore has been adjusted for inflation.

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Because growth is better than no growth.

Because economic growth leads to a higher standard of living

So we can brag about how much GDP we produce.

Because it's important to be number one.

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Q4 of 2015

Q4 of 2017

Q4 of 2019

Q4 of 2018

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real GDP times the population

real GDP divided by population

real GDP divided by civilian labor force

nominal GDP times population