What is the difference between GDP and GNP deflator GDP deflator real GDP?

The difference between GDP and GNP is that GDP (Gross Domestic Product) measures the total value of all goods and services produced within a country's borders, regardless of the nationality of the producers. On the other hand, GNP (Gross National Product) measures the total value of all goods and services produced by the residents of a country, regardless of where they are located.

The GDP deflator is a measure of the overall price level of goods and services produced in an economy. It is calculated by dividing the nominal GDP (measured in current prices) by the real GDP (measured in constant prices) and multiplying by 100. The GDP deflator reflects changes in both the prices of goods and services and the quantities produced.

Real GDP, on the other hand, is a measure of the total value of all goods and services produced in an economy, adjusted for inflation. It is calculated by using constant prices, which allows for a more accurate comparison of economic output over time. Real GDP takes into account changes in both the quantities produced and the prices of goods and services.

In summary, GDP measures the total value of production within a country's borders, GNP measures the total value of production by a country's residents regardless of location, the GDP deflator measures changes in the overall price level, and real GDP adjusts for inflation to provide a more accurate measure of economic output.