CAN NOMINAL GDP TO BE LESS THAN THE REAL GDP SAME YEAR ? (急)

2007-02-13 6:49 pm
DEAR ALL

I WOULD LIKE TO ASK IS IT POSSIBLE THAT THE NOMINAL GDP TO BE LESS THAN THE REAL GDP IN THE SAME YEAR ?

PLEASE EXPLAIN , THANK YOU VERY MUCH ! (URGENT!!!)

回答 (4)

2007-02-13 10:18 pm
✔ 最佳答案
Nominal GDP means the GDP is calculated using the price of current year
( Q x Price of current year)
Real GDP means the GDP is calculated using the price of base year
( Q x Price of base year)

It depends on what do you mean by “the same year”
If “the same year” means at the base year, then, it is impossible that nominal GDP < real GDP. At the base year, the price level does not change(at 100)…so, nominal GDP must = real GDP.

However, if “the same year” is not the base year, but simply means the real GDP and the nominal GDP at the current year, then, it is possible that nominal GDP < real GDP.
This situation will occur when there is a fall in the current year’s price level (deflation, and price level fall below 100).

Using the equation above,
nominal GDP = Q x Price of current year
real GDP = Q x Price of base year
since Price of current year falls to below 100(less than Price of base year)
then, nominal GDP < real GDP.
2007-02-14 9:53 am
(Nominal GDP / Real GDP ) X 100 = GDP deflator

if Nominal GDP > Real GDP , GDP deflator >100
if Nominal GDP < Real GDP , GDP deflator <100

Real GDP is measure in a base year price index

In the base year,
Nominal GDP = Real GDP
(in the base year , GDP deflator =100)
2007-02-13 10:12 pm
Possible, when inflation rate is negative (i.e., deflation)

Eg,
Nominal GDP 5%
Inflation rate -2% (or deflation)
Real GDP = 5% - (-2%) = 7%
2007-02-13 8:02 pm
real gdp= gdp in the base year
nominal gdp= gdp including the inflation lv. in the current year

SO, if you say whether nominal gdp< real gdp in the same year,
it's not possibe to my thought,
as nominal gdp=real gdp in the base year(same year), no inflation no any change in price lv.

but above it's just my thought


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