nominal GDP
Current-dollar national product
Nominal GDP is a country's gross domestic product measured in current prices, without adjusting for inflation.
It reflects the total value of goods and services produced using the prices that prevailed during the measurement period.
Economists contrast nominal GDP with real GDP, which strips out price changes to show actual growth in economic output: Nominal GDP rose 7%, but real GDP grew only 3% after accounting for inflation.
- economic growthSustained output increase
- growth rateSpeed of increase
- economic outputValue produced by economy
- inflationSustained price level increase
- outputWhat something generates
national income · market value · dollar value · price level · base year · purchasing power · economic indicator · recession · expansion · fiscal policy · monetary value · Fed policy · macroeconomics · trade balance · employment · central bank · debt ratio · spending