Talk:Real gross domestic product

Fair use rationale for Image:Pyat rublei 1997.jpg

Image:Pyat rublei 1997.jpg is being used on this article. I notice the image page specifies that the image is being used under fair use but there is no explanation or rationale as to why its use in this Wikipedia article constitutes fair use. In addition to the boilerplate fair use template, you must also write out on the image description page a specific explanation or rationale for why using this image in each article is consistent with fair use.

Please go to the image description page and edit it to include a fair use rationale. Using one of the templates at Wikipedia:Fair use rationale guideline is an easy way to insure that your image is in compliance with Wikipedia policy, but remember that you must complete the template. Do not simply insert a blank template on an image page.

If there is other fair use media, consider checking that you have specified the fair use rationale on the other images used on this page. Note that any fair use images uploaded after 4 May, 2006, and lacking such an explanation will be deleted one week after they have been uploaded, as described on criteria for speedy deletion. If you have any questions please ask them at the Media copyright questions page. Thank you.

BetacommandBot 11:33, 6 July 2007 (UTC)

Confusing concept

The article does not make clear what is a "real GDP". "Real GDP growth" or "real GDP evolution" is a clear concept (the GDP evolution corrected by the price evolution). But "real GDP" is not. Is it considered real in reference to a previous GDP? Should we convert today current GDP into one calculated with past prices?. I'm not too convinced by this concept.--Pgreenfinch 15:27, 15 October 2007 (UTC)

The confusion is clarified once you look at the units for GDP. Nominal gross domestic product is a flow of money normally expressed in the units of $ / year. To convert between nominal and real GDP:

NGDP = RGDP * ( 1 + Delta P / P ) where Delta P / P is the unitless inflation rate. The change in price level measured in Delta P is assumed to occur over the same time frame as the flow of money represented by NGDP and RGDP. — Preceding unsigned comment added by 4.49.117.146 (talk) 13:12, 15 August 2013 (UTC)

If you want to look at Real / Nominal GDP growth (evolution) you would need look at changes in the inflation rate:

IR (Inflation Rate) = Delta P / P Delta NGDP = Delta RGDP * ( 1 + IR ) + RGDP * Delta IR RGDP = NGDP / ( 1 + IR ) Delta RGDP = Delta NGDP / ( 1 + IR ) - NGDP * Delta IR / ( 1 + IR )^2

If Delta IR is 0 (constant inflation rate) then each period's change in real GDP is simply the change in nominal GDP discounted by the prevailing inflation rate. — Preceding unsigned comment added by 4.49.117.146 (talk) 15:29, 15 August 2013 (UTC)

A chart would be helpful comparing Real vs Potential GDP

It would be very helpful if the page included or linked a chart showing

Log of real GDP vs log of potential GDP (or "Potential output" as the current WP article is disappointingly titled))

with which potential GDP is frequently and most helpfully contrasted.

The Potential GDP article should be renamed as such, and linked here. —Preceding unsigned comment added by 67.101.142.40 (talk) 18:45, 27 December 2008 (UTC)

This page should talk about chained weights and fixed weights, and how real GDP value calculated differs in the two. — Preceding unsigned comment added by 129.59.115.1 (talk) 06:23, 23 September 2012 (UTC)