The market value of all goods and services produced in a country’s economy is known as GDP.
For inflation, nominal GDP is modified.
Nominal inflation for GDP is adjusted for real GDP.
The nominal GDP is thus numerically greater than the real GDP.
The market value of all goods and services produced in a country’s economy is known as GDP.
For inflation, nominal GDP is modified.
Nominal inflation for GDP is adjusted for real GDP.
The nominal GDP is thus numerically greater than the real GDP.
