-
Nominal and Real Value
published: 09 Feb 2014
-
Economics Glossary: Nominal versus Real Values
Definition of nominal and real assets and an explanation of the difference between the two.
published: 01 Mar 2021
-
Real vs Nominal value | Chapter 5, Book 1
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Book 1 by Adam Smith. In this chapter, Adam Smith covers the difference between real and nominal value.
All quotes are from Book 1, Chapter 5.
pages summarized: 17
published: 17 Jun 2019
-
What is Nominal Value?
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/financial-glossary/nominal-value-definition-meaning/
published: 25 Oct 2021
-
Real vs Nominal GDP
This video explains the difference between real and nominal GDP. Using an example from a pizzeria, the video explains why it’s important to adjust GDP for inflation when examining GDP over time.
Learn more at: https://www.stlouisfed.org/education/gdp-and-pizza-videos
Follow us:
Twitter: https://twitter.com/stlouisfed
Instagram: https://www.instagram.com/stlouisfed/
LinkedIn: https://www.linkedin.com/company/stlo...
Facebook: https://www.facebook.com/stlfed
#gdp #economy #economics #inflation #pizza #teacher #teaching #teachers #students
published: 30 Aug 2022
-
Inflation Guide Chapter 3: Nominal versus real prices.
If there are changes in the price level, how do we use that information to convert the prices we see everyday into numbers that we can actually compare? Learn how to convert prices into "real" values.
See the complete citizen's guide to understanding inflation: www.inflationguide.org
© International Budget Partnership, 2012.
Author: Jason Lakin, Program Officer and Research Fellow, International Budget Partnership
Creative design and animation: Formula D interactive
Website: www.formula-d.com
This is a publication of the International Budget Partnership. The IBP produced the guide to support civil society, citizens, and other public finance stakeholders in thier efforts to understand and influence public finance processes and policies and other educational purposes. If you would like...
published: 21 Dec 2012
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Real GDP and nominal GDP | GDP: Measuring national income | Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/real-vs-nominal-gdp/v/real-gdp-and-nominal-gdp
Using real GDP as a measure of actual productivity growth
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/real-nominal-gdp-tutorial/v/gdp-deflator?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a tradition...
published: 10 Feb 2012
-
nominal vs real value
published: 01 Aug 2016
-
Nominal and Real GDP
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP into a real GDP figure.
published: 12 Oct 2020
-
Nominal interest, real interest, and inflation calculations | AP Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/nominal-interest-real-interest-and-inflation-calculations-ap-macroeconomics-khan-academy2
The market for loanable funds brings savers and borrowers together. We can also represent the same idea using a mathematical model. In this video, learn about the savings and investment identity. AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an entire nationÕs performance is determined and improved over time. Learn how factors like unemployment, inflation, interest rates, economic growth and recession are caused and how they affect individuals and society as a ...
published: 11 Apr 2018
2:29
Economics Glossary: Nominal versus Real Values
Definition of nominal and real assets and an explanation of the difference between the two.
Definition of nominal and real assets and an explanation of the difference between the two.
https://wn.com/Economics_Glossary_Nominal_Versus_Real_Values
Definition of nominal and real assets and an explanation of the difference between the two.
- published: 01 Mar 2021
- views: 1626
8:20
Real vs Nominal value | Chapter 5, Book 1
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Boo...
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Book 1 by Adam Smith. In this chapter, Adam Smith covers the difference between real and nominal value.
All quotes are from Book 1, Chapter 5.
pages summarized: 17
https://wn.com/Real_Vs_Nominal_Value_|_Chapter_5,_Book_1
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Book 1 by Adam Smith. In this chapter, Adam Smith covers the difference between real and nominal value.
All quotes are from Book 1, Chapter 5.
pages summarized: 17
- published: 17 Jun 2019
- views: 12419
1:40
What is Nominal Value?
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/fina...
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/financial-glossary/nominal-value-definition-meaning/
https://wn.com/What_Is_Nominal_Value
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/financial-glossary/nominal-value-definition-meaning/
- published: 25 Oct 2021
- views: 3263
3:41
Real vs Nominal GDP
This video explains the difference between real and nominal GDP. Using an example from a pizzeria, the video explains why it’s important to adjust GDP for infla...
This video explains the difference between real and nominal GDP. Using an example from a pizzeria, the video explains why it’s important to adjust GDP for inflation when examining GDP over time.
Learn more at: https://www.stlouisfed.org/education/gdp-and-pizza-videos
Follow us:
Twitter: https://twitter.com/stlouisfed
Instagram: https://www.instagram.com/stlouisfed/
LinkedIn: https://www.linkedin.com/company/stlo...
Facebook: https://www.facebook.com/stlfed
#gdp #economy #economics #inflation #pizza #teacher #teaching #teachers #students
https://wn.com/Real_Vs_Nominal_Gdp
This video explains the difference between real and nominal GDP. Using an example from a pizzeria, the video explains why it’s important to adjust GDP for inflation when examining GDP over time.
Learn more at: https://www.stlouisfed.org/education/gdp-and-pizza-videos
Follow us:
Twitter: https://twitter.com/stlouisfed
Instagram: https://www.instagram.com/stlouisfed/
LinkedIn: https://www.linkedin.com/company/stlo...
Facebook: https://www.facebook.com/stlfed
#gdp #economy #economics #inflation #pizza #teacher #teaching #teachers #students
- published: 30 Aug 2022
- views: 34920
4:19
Inflation Guide Chapter 3: Nominal versus real prices.
If there are changes in the price level, how do we use that information to convert the prices we see everyday into numbers that we can actually compare? Learn h...
If there are changes in the price level, how do we use that information to convert the prices we see everyday into numbers that we can actually compare? Learn how to convert prices into "real" values.
See the complete citizen's guide to understanding inflation: www.inflationguide.org
© International Budget Partnership, 2012.
Author: Jason Lakin, Program Officer and Research Fellow, International Budget Partnership
Creative design and animation: Formula D interactive
Website: www.formula-d.com
This is a publication of the International Budget Partnership. The IBP produced the guide to support civil society, citizens, and other public finance stakeholders in thier efforts to understand and influence public finance processes and policies and other educational purposes. If you would like to use some or all of the guide for educational, noncommercial purposes, please contact:
[email protected] for permission to do so.
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www.internationalbudget.org
https://wn.com/Inflation_Guide_Chapter_3_Nominal_Versus_Real_Prices.
If there are changes in the price level, how do we use that information to convert the prices we see everyday into numbers that we can actually compare? Learn how to convert prices into "real" values.
See the complete citizen's guide to understanding inflation: www.inflationguide.org
© International Budget Partnership, 2012.
Author: Jason Lakin, Program Officer and Research Fellow, International Budget Partnership
Creative design and animation: Formula D interactive
Website: www.formula-d.com
This is a publication of the International Budget Partnership. The IBP produced the guide to support civil society, citizens, and other public finance stakeholders in thier efforts to understand and influence public finance processes and policies and other educational purposes. If you would like to use some or all of the guide for educational, noncommercial purposes, please contact:
[email protected] for permission to do so.
U.S.
820 First Street, NE Suite 510
Washington, DC 20002 U.S.
Tel: +1 202 408 1080 | Fax: +1 202 408 8173
South Africa
International Budget Partnership c/o ISS
2nd Floor
The Amoury
Buchanan Square
160 Sir Lowry Road
Woodstock
7925
Tel: +27-021-461-7211 | Fax: +27-021-461-7213
Mexico.
Xicotencatl 370-601
Del. Carmen Coyoacán, C.P. 04100 México, D.F.
Tel: +5255 5658 3165 | +5255 5282 0036
India
802 Raj Atlantis
Near SVP School, off Mira-Bhayender
Road Beverly Park, Mira Road (East)
401107 India
Tel: +91 22 2811 4868 | +91 96 6507 1392
Or email us at:
[email protected]
www.internationalbudget.org
- published: 21 Dec 2012
- views: 62299
8:04
Real GDP and nominal GDP | GDP: Measuring national income | Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroecono...
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/real-vs-nominal-gdp/v/real-gdp-and-nominal-gdp
Using real GDP as a measure of actual productivity growth
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/real-nominal-gdp-tutorial/v/gdp-deflator?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/Real_Gdp_And_Nominal_Gdp_|_Gdp_Measuring_National_Income_|_Macroeconomics_|_Khan_Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/real-vs-nominal-gdp/v/real-gdp-and-nominal-gdp
Using real GDP as a measure of actual productivity growth
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/real-nominal-gdp-tutorial/v/gdp-deflator?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
- published: 10 Feb 2012
- views: 868739
6:21
Nominal and Real GDP
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP in...
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP into a real GDP figure.
https://wn.com/Nominal_And_Real_Gdp
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP into a real GDP figure.
- published: 12 Oct 2020
- views: 11413
3:34
Nominal interest, real interest, and inflation calculations | AP Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroecono...
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/nominal-interest-real-interest-and-inflation-calculations-ap-macroeconomics-khan-academy2
The market for loanable funds brings savers and borrowers together. We can also represent the same idea using a mathematical model. In this video, learn about the savings and investment identity. AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an entire nationÕs performance is determined and improved over time. Learn how factors like unemployment, inflation, interest rates, economic growth and recession are caused and how they affect individuals and society as a whole. We hit the traditional topics from an AP Macroeconomics course, including basic economic concepts, economic indicators, and the business cycle, national income and price determination, the financial sector, the long-run consequences of stabilization policies, and international trade and finance. About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything https://www.youtube.com/subscription_center?add_user=khanacademy.
View more lessons or practice this subject at http://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/nominal-interest-real-interest-and-inflation-calculations-ap-macroeconomics-khan-academy2?utm_source=youtube&utm_medium=desc&utm_campaign=apmacroeconomics
AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us!
Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help! Donate or volunteer today!
Donate here: https://www.khanacademy.org/donate?utm_source=youtube&utm_medium=desc
Volunteer here: https://www.khanacademy.org/contribute?utm_source=youtube&utm_medium=desc
https://wn.com/Nominal_Interest,_Real_Interest,_And_Inflation_Calculations_|_Ap_Macroeconomics_|_Khan_Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/nominal-interest-real-interest-and-inflation-calculations-ap-macroeconomics-khan-academy2
The market for loanable funds brings savers and borrowers together. We can also represent the same idea using a mathematical model. In this video, learn about the savings and investment identity. AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an entire nationÕs performance is determined and improved over time. Learn how factors like unemployment, inflation, interest rates, economic growth and recession are caused and how they affect individuals and society as a whole. We hit the traditional topics from an AP Macroeconomics course, including basic economic concepts, economic indicators, and the business cycle, national income and price determination, the financial sector, the long-run consequences of stabilization policies, and international trade and finance. About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything https://www.youtube.com/subscription_center?add_user=khanacademy.
View more lessons or practice this subject at http://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/nominal-interest-real-interest-and-inflation-calculations-ap-macroeconomics-khan-academy2?utm_source=youtube&utm_medium=desc&utm_campaign=apmacroeconomics
AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us!
Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help! Donate or volunteer today!
Donate here: https://www.khanacademy.org/donate?utm_source=youtube&utm_medium=desc
Volunteer here: https://www.khanacademy.org/contribute?utm_source=youtube&utm_medium=desc
- published: 11 Apr 2018
- views: 202097
-
Nominal vs. Real GDP
"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 ti...
published: 19 Nov 2015
-
Economics Glossary: Nominal versus Real Values
Definition of nominal and real assets and an explanation of the difference between the two.
published: 01 Mar 2021
-
Nominal and Real Value
published: 09 Feb 2014
-
Real vs Nominal value | Chapter 5, Book 1
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Book 1 by Adam Smith. In this chapter, Adam Smith covers the difference between real and nominal value.
All quotes are from Book 1, Chapter 5.
pages summarized: 17
published: 17 Jun 2019
-
Real and nominal return | Inflation | Finance & Capital Markets | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/real-and-nominal-return
Inflation and real and nominal return. Created by Sal Khan.
Watch the next lesson:
https://www.khanacademy.org/economics-finance-domain/core-finance/inflation-tutorial/real-nominal-return-tut/v/calculating-real-return-in-last-year-dollars?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets
Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/inflation-tutorial/inflation-scenarios-tutorial/v/hyperinflation?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets
Fina...
published: 21 Jul 2011
-
Nominal and Real GDP
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP into a real GDP figure.
published: 12 Oct 2020
-
Maths Made Easy for A-Level Economics - Nominal to Real Conversions
The difference between nominal and real data is explained in this short revision video for A Level Economics students.
Nominal data is current data at current prices
Real data is data that takes into account the effect of inflation i.e. data at constant prices.
published: 22 May 2019
-
Real vs. Nominal Variables
Recorded with https://screencast-o-matic.com
published: 03 Apr 2018
-
Real GDP and nominal GDP | GDP: Measuring national income | Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/real-vs-nominal-gdp/v/real-gdp-and-nominal-gdp
Using real GDP as a measure of actual productivity growth
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/real-nominal-gdp-tutorial/v/gdp-deflator?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a tradition...
published: 10 Feb 2012
-
What is Nominal Value?
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/financial-glossary/nominal-value-definition-meaning/
published: 25 Oct 2021
7:41
Nominal vs. Real GDP
"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we m...
"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 times bigger than in 1950!
But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP?
When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950.
As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage.
So, how do you calculate real GDP? That’s what you’ll learn today.
In this video, we’ll walk you through the factors that go into the computation of real GDP.
We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP.
Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website.
FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?”
FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question:
"Are we better off than we were all those years ago?"
Macroeconomics Course: http://bit.ly/39ltfFi
Next video: http://bit.ly/3bsTBXh
Help us caption & translate this video!
http://amara.org/v/H0PX/
00:00 Intro
00:36 2 Ways GDP Can Increase
01:31 Real GDP
02:05 Example - US Nominal GDP FRED
03:13 Example - Real US GDP FRED
04:14 Real GDP Per Capita (Controlling for Population Changes)
04:47 Example - Real US GDP Per Capita FRED
05:44 Recessions
06:16 Percent Annual Changes
https://wn.com/Nominal_Vs._Real_Gdp
"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 times bigger than in 1950!
But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP?
When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950.
As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage.
So, how do you calculate real GDP? That’s what you’ll learn today.
In this video, we’ll walk you through the factors that go into the computation of real GDP.
We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP.
Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website.
FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?”
FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question:
"Are we better off than we were all those years ago?"
Macroeconomics Course: http://bit.ly/39ltfFi
Next video: http://bit.ly/3bsTBXh
Help us caption & translate this video!
http://amara.org/v/H0PX/
00:00 Intro
00:36 2 Ways GDP Can Increase
01:31 Real GDP
02:05 Example - US Nominal GDP FRED
03:13 Example - Real US GDP FRED
04:14 Real GDP Per Capita (Controlling for Population Changes)
04:47 Example - Real US GDP Per Capita FRED
05:44 Recessions
06:16 Percent Annual Changes
- published: 19 Nov 2015
- views: 1193611
2:29
Economics Glossary: Nominal versus Real Values
Definition of nominal and real assets and an explanation of the difference between the two.
Definition of nominal and real assets and an explanation of the difference between the two.
https://wn.com/Economics_Glossary_Nominal_Versus_Real_Values
Definition of nominal and real assets and an explanation of the difference between the two.
- published: 01 Mar 2021
- views: 1626
8:20
Real vs Nominal value | Chapter 5, Book 1
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Boo...
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Book 1 by Adam Smith. In this chapter, Adam Smith covers the difference between real and nominal value.
All quotes are from Book 1, Chapter 5.
pages summarized: 17
https://wn.com/Real_Vs_Nominal_Value_|_Chapter_5,_Book_1
This video covers Chapter 5 - 'Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price in Money' of The Wealth of Nations Book 1 by Adam Smith. In this chapter, Adam Smith covers the difference between real and nominal value.
All quotes are from Book 1, Chapter 5.
pages summarized: 17
- published: 17 Jun 2019
- views: 12419
3:10
Real and nominal return | Inflation | Finance & Capital Markets | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroecono...
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/real-and-nominal-return
Inflation and real and nominal return. Created by Sal Khan.
Watch the next lesson:
https://www.khanacademy.org/economics-finance-domain/core-finance/inflation-tutorial/real-nominal-return-tut/v/calculating-real-return-in-last-year-dollars?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets
Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/inflation-tutorial/inflation-scenarios-tutorial/v/hyperinflation?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets
Finance and capital markets on Khan Academy: If the value of money is constantly changing, can we compare investment return in the future or past to that earned in the present? This tutorial focuses on how to do this (another good tutorial to watch is the one on "present value").
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/Real_And_Nominal_Return_|_Inflation_|_Finance_Capital_Markets_|_Khan_Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/nominal-v-real-interest-rates-ap/v/real-and-nominal-return
Inflation and real and nominal return. Created by Sal Khan.
Watch the next lesson:
https://www.khanacademy.org/economics-finance-domain/core-finance/inflation-tutorial/real-nominal-return-tut/v/calculating-real-return-in-last-year-dollars?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets
Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/inflation-tutorial/inflation-scenarios-tutorial/v/hyperinflation?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets
Finance and capital markets on Khan Academy: If the value of money is constantly changing, can we compare investment return in the future or past to that earned in the present? This tutorial focuses on how to do this (another good tutorial to watch is the one on "present value").
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
- published: 21 Jul 2011
- views: 242739
6:21
Nominal and Real GDP
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP in...
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP into a real GDP figure.
https://wn.com/Nominal_And_Real_Gdp
In this short revision video we look at the difference between nominal (money) and real GDP and we work through a quick calculation of converting nominal GDP into a real GDP figure.
- published: 12 Oct 2020
- views: 11413
9:51
Maths Made Easy for A-Level Economics - Nominal to Real Conversions
The difference between nominal and real data is explained in this short revision video for A Level Economics students.
Nominal data is current data at current...
The difference between nominal and real data is explained in this short revision video for A Level Economics students.
Nominal data is current data at current prices
Real data is data that takes into account the effect of inflation i.e. data at constant prices.
https://wn.com/Maths_Made_Easy_For_A_Level_Economics_Nominal_To_Real_Conversions
The difference between nominal and real data is explained in this short revision video for A Level Economics students.
Nominal data is current data at current prices
Real data is data that takes into account the effect of inflation i.e. data at constant prices.
- published: 22 May 2019
- views: 5161
4:42
Real vs. Nominal Variables
Recorded with https://screencast-o-matic.com
Recorded with https://screencast-o-matic.com
https://wn.com/Real_Vs._Nominal_Variables
Recorded with https://screencast-o-matic.com
- published: 03 Apr 2018
- views: 4595
8:04
Real GDP and nominal GDP | GDP: Measuring national income | Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroecono...
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/real-vs-nominal-gdp/v/real-gdp-and-nominal-gdp
Using real GDP as a measure of actual productivity growth
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/real-nominal-gdp-tutorial/v/gdp-deflator?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/Real_Gdp_And_Nominal_Gdp_|_Gdp_Measuring_National_Income_|_Macroeconomics_|_Khan_Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/real-vs-nominal-gdp/v/real-gdp-and-nominal-gdp
Using real GDP as a measure of actual productivity growth
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/real-nominal-gdp-tutorial/v/gdp-deflator?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/examples-of-accounting-for-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
- published: 10 Feb 2012
- views: 868739
1:40
What is Nominal Value?
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/fina...
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/financial-glossary/nominal-value-definition-meaning/
https://wn.com/What_Is_Nominal_Value
This video presentation explains what the term "nominal value" means in easy and simple to understand language.
Learn more: https://marketbusinessnews.com/financial-glossary/nominal-value-definition-meaning/
- published: 25 Oct 2021
- views: 3263