Explain the difference between nominal and real gross domestic product (GDP).

      

Explain the difference between nominal and real gross domestic product (GDP).

  

Answers


queen
Nominal GDP is GDP valued at the prices of the year in which it is measured, not adjusted for inflation.
Real GDP is GDP which has been adjusted for inflation, usually by valuing output at the prices of some previous year.

queen babito answered the question on July 3, 2018 at 09:20


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