Glossary · Macro · GDP and output

Nominal GDP

GDP measured at the prices of the year it was produced. It rises whenever prices rise, even if the country made no more stuff, so it mixes real growth with inflation.

Also called: current-dollar GDP

Taught in: Nominal vs Real GDP

Related terms

Real GDPGDP deflatorGross domestic product (GDP)

More from gdp and output

Components of GDPHuman Development Index (HDI)What GDP misses

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