nominal GDP

Popular Terms
The determination of actual gross domestic product without taking into account other factors or variables such as inflation.

Use 'nominal GDP' in a Sentence

The nominal GDP carries great weight in countries who are not experiencing hyperinflation such as the USA, China, and the EU.
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When you want to try and find out what your product is currently worth knowing the nominal GDP will give you a good answer.
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Considering the value of all of the goods and services produced within that country, it has a great nominal GDP but its GDP is very poor due to inflation there.
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