Ask Question
12 May, 22:31

What is the difference between real GDP and nominal GDP

+1
Answers (1)
  1. 13 May, 00:53
    0
    Real Gross Domestic Product or real GDP is a measure of the value of economic output like inflation or deflation of prices. Nominal GDP on the other hand is a figure which has not been adjusted for any inflation. Nominal GDP is also known as the "current dollar GDP" sometimes, "chained dollar GDP". Adjustment in real GDP transforms the nominal GDP, the money-value measure an index for total output quantity. The main difference between these two GDP’s is that real values are adjusted for inflation while nominal is otherwise.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is the difference between real GDP and nominal GDP ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers