Answer to Question #165530 in Macroeconomics for Hussain Dhmaen

Question

 Calculate (1) total real GDP year-on-year growth in Q2 of 2019 (that is, the percentage change from Q2 2018 to Q2 2019) and that of Q2 2020 and (2) year-on-year real growth of non-oil private sector in Q2 2019 as well as Q2 2020. o Chart: Draw a bar chart showing the real growth rates (in (1) and (2) above). In the same chart, add the real growth rate in 2020 of the whole world, Arab World, MENA region, emerging and developing Economies, advanced Economies. Real growth rates of those regions are calculated by IMF

https://www.stats.gov.sa/en/814

https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD

Answer 1

In general, calculating real GDP is done by dividing nominal GDP by the GDP deflator (R).

Real Economic Growth Rate is the rate at which a nation's GDP changes from one year to another.