Our real GDP is equal to our current dollar GDP.

This is our real GDP, our real GDP is equal to 14 921.3 billion dollars.

Over the last 30 years, in terms of the GDP growth rates,

Our real GDP is what we want to figure out.

And then we can just solve for the real GDP.

China out perfomed India in terms of GDP growth by an average of about 2.2 percent every year in terms of per capita GDP.

And then this cancels with that and we get our real GDP.

Japan achieved a real GNP growth of 5 last year.

We know the deflator is, can we figure out the real GDP in 2011 and that will be the real GDP in 2010 dollars, when we have the deflator relative to 2010.

Price increases explain the difference between the real and nominal growth rates.

That was in the early 2000s when India was going gung ho about GDP growth as the means forward

Let's say this is U.S. GDP, right? GDP is just output.

So let's do that. Multiply both sides by the real GDP, divide both sides by 1.025.

Maybe, if you adjust that for GDP growth or inflation, that 100,000 in 2009 dollars might be 150,000 or 200,000.

You just say Hey, let's take our current dollar GDP, divide it by the deflator, I guess you could say world deflated, to get the real GDP.

Growth

Growth.

A study last year showed a direct correlation between the growth of mobile phone use and subsequent GDP increases across Africa.

And on this axis, GDP.

Spike growth

Fueling growth.

producing growth.

Now that is the way that we know the nominal GDP is, the GDP measured in 2011 dollars,ofen called the current dollar GDP.

Last in Europe GDP per capita.

But either way, that's essencially what simplify too, this is our current dollar GDP, our nominal GDP dividing it by, what I would prefer to call the deflator, but you could use it as the deflator divided by 100 and that gave us a real GDP.

That's called growth.

Growth was negative.

First, population growth.

Second, economic growth.

Ghana and Singapore had the same GDP.

Cheap meaning a few percent of GDP.

15 ! 15 lift to Japanese GDP level.

So here's GDP per person in America.

But that's not how economists measure GDP.

And it became ever clearer that economic growth doesn't automatically translate into social growth or human growth.

So to do that we just have to remember that the ratio between our nominal GDP and our real GDP is going to be the ratio, you can viewed as current dollar vs. 2010 dollars.

Country A has surpassed Country B with 700 per capita GDP as compared with 650 per capita GDP.

That's not U.S. GDP per capita, which will be over a million, but world GDP per capita 200,000.

So we're thinking about GDP in a year but we could think about GDP in a quarter, whatever.

This is a log scale, so what looks like steady growth is actually an acceleration in real terms.

That's a country that suffered from devastating poverty, experienced being burnt down, but was resurrected with all these tall buildings. and has achieved enormous growth in GDP.

Maximum rate of growth

Minimum rate of growth

Innovation drives economic growth.

It's always population growth.