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  2. Real gross domestic product - Wikipedia

    en.wikipedia.org/wiki/Real_gross_domestic_product

    Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.

  3. GDP deflator - Wikipedia

    en.wikipedia.org/wiki/GDP_deflator

    The nominal GDP of a given year is computed using that year's prices, while the real GDP of that year is computed using the base year's prices. The formula implies that dividing the nominal GDP by the real GDP and multiplying it by 100 will give the GDP Deflator, hence "deflating" the nominal GDP into a real measure. [1]

  4. Gross domestic product - Wikipedia

    en.wikipedia.org/wiki/Gross_Domestic_Product

    Real GDP can be used to calculate the GDP growth rate, which indicates how much a country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change. The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate.

  5. Real and nominal value - Wikipedia

    en.wikipedia.org/wiki/Real_and_nominal_value

    The real value is the value expressed in terms of purchasing power in the base year. The index price divided by its base-year value / gives the growth factor of the price index. Real values can be found by dividing the nominal value by the growth factor of a price index.

  6. Chained volume series - Wikipedia

    en.wikipedia.org/wiki/Chained_volume_series

    A chained volume series is a series of economic data (such as GDP, GNP or similar kinds of data) from successive years, put in real (or constant, i.e. inflation- and deflation-adjusted) terms by computing the aggregate value of the measure (e.g. GDP or GNP) for each year using the prices of the preceding year, and then 'chain linking' the data together to obtain a time-series of figures from ...

  7. Measures of national income and output - Wikipedia

    en.wikipedia.org/wiki/Measures_of_national...

    Gross domestic product (GDP) is defined as "the value of all final goods and services produced in a country in 1 year". [3] Gross national product (GNP) is defined as "the market value of all goods and services produced in one year by labour and property supplied by the residents of a country." [4]

  8. Base effect - Wikipedia

    en.wikipedia.org/wiki/Base_effect

    The base effect is a mathematical effect that originates from the fact that a given percentage of a reference value, is not the same as the absolute difference of the same given percentage of a much larger or smaller reference value. [1] E.g. 1% of a GDP of US$1 million is not equal to 1% of GDP of US$1 billion in terms of absolute difference. [2]

  9. Economic growth - Wikipedia

    en.wikipedia.org/wiki/Economic_growth

    Growth is usually calculated in "real" value, which is inflation-adjusted, to eliminate the distorting effect of inflation on the prices of goods produced. [3] Real GDP per capita is the GDP of the entire country divided by the number of people in the country. Measurement of economic growth uses national income accounting. [4]