GDP is the total sum of the wealth produced in a country over a given period of time, usually one year. Nominal GDP is GDP at current prices, while nominal GDP is deflated GDP, ie, discounted inflation. Thus, if the inflation rate is 5% = 0.05, we have to use the formula for the real GDP calculation:
Real GDP 2018 = Nominal GDP / 1+ inflation rate
Real GDP = 315 / 1.05 = $ 300 (in billions).
To calculate the GDP growth rate between 2017 and 2018, just narrow the difference between real GDP for both years and divide by the value of real GDP for 2017. The result must be multiplied by 100 to find the percentage value.
GDP growth rate = {(300 - 273) / 273} * 100 = 9.89%
<span>The advantage for politicians communicating with citizen via websites and social media,so that they can easily understand the citizen's point of view instead of writing letters and petitions to the politician.This Direct communication leads to quickly resolve the citizen's issues and develop the friendly relationship between the politicians and there will not be any bridge gap between politicians and citizens.</span>
The president of France is Francois Hollande
