... well, actually, I guess I do have one more topic we could discuss: the GDP deflator. Let's go back to looking at our own
... well, actually, I guess I do have one more topic we could discuss: the GDP deflator. Let's go back to looking at our own nation for this one - remember, Econometrica's GDP totals $7,180. That GDP was measured in current dollars using a method different than the one we used. That method involves multiplying quantities sold times prices for each piece of output, and the prices used are current prices. In other words, there's no adjustment for inflation. This means that our current GDP of $7,180 is measured in which terms?
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