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Glossary

Terms4 shown

GDP DeflatorMeasured by the ratio of nominal GDP to real GDP, it is an indicator of overall price changes in all goods and services produced by a country.
Nominal GDPThe value of all goods and services produced by a country, calculated at current-period prices.
Base yearCalculating real GDP and comparing price changes, the year used as the price reference.
Real GDPThe value of all goods and services produced by a country, calculated at base-year prices.

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Definition

Nominal GDP

The value of all goods and services produced by a country, calculated at current-period prices.

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