The real GDP is a variable of the total GDP; please don’t mix it with the nominal one because the real one only uses the current price value.
On the other hand, the nominal one counts everything in the price list; the real GDP’s formula is quite simple & you are supposed to divide the nominal GDP with the GDP deflator.
However, you don’t have to buy a calculator for that because many online versions are available; you have to add the values & check the percentage.
What Are the Uses of the Real GDP Calculator Online?
- The real GDP will let you know the very recent income from the current production; you will find if the ratio is good or bad.
- On the other hand, you can take the necessary steps to increase the GDP or its inflators.