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Economics 101: Real GDP | SterlingTerrell.net

Economics 101: Real GDP

What is real GDP?

Real GDP is the inflation adjusted final value of all good and services produced in an economy over a given time period.

This is where GDP stands for: Gross Domestic Product.

Obviously, this is different than nominal GDP, where prices have not been adjusted to account for inflation.

Many use real GDP as a measure of growth in the economy of a nation or state.