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Nominal Gross Domestic Product (GDP) Explained | How It's Calculated & What It Means

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Nominal Gross Domestic Product (GDP) Explained | How It's Calculated & What It Means

Nominal GDP is the total value of all goods and services produced within a country's borders, measured using current market prices during the period being evaluated. Unlike real GDP, it doesn't account for inflation or deflation, meaning it reflects the value at today’s prices. This makes Nominal GDP useful for comparing the economic output ...

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