What Is GDP?

What is GDP? and what is different between Norminal GDP and Real GDP?

  • what is GDP? and what is different between Norminal GDP and Real GDP

  • Answer:

    GDP = Gross domestic product, it is all the goods and services produced by a nation within a specific amount time period nominal GDP = GDP not adjusted for inflation real GDP = GDP adjusted for inflation, it is a more accurate figure you also need to know the difference between GDP and GNP

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