question archive Nominal vs Real GDP
Nominal vs Real GDP
Subject:EconomicsPrice: Bought3
Nominal vs Real GDP. Real GDP and nominal GDP are both very important calculations made to understand the strength of a country's economy. The nominal GDP measures the value of total goods and services produced in an economy in current monetary terms, whereas real GDP measures the value of goods and services after removing all inflationary effects.
Real adjusts for inflation, so how do we arrive at the real GDP number from nominal GDP?
