Please help me,its economics, what is the other for real GDP and nominal GDP

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asked Mar 17, 2022 17.5k views

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Matt Donnan · Answer 1 · 2022-03-23T05:57:58+0000

Answer:

The main difference between nominal GDP and real GDP is the adjustment for inflation. Since nominal GDP is calculated using current prices, it does not require any adjustments for inflation. ... Using a GDP price deflator, real GDP reflects GDP on a per quantity basis.

Please help me,its economics, what is the other for real GDP and nominal GDP

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Please help me,its economics, what is the other for real GDP and nominal GDP