If prices in the current year are lower than prices in the base year, nominal GDP may be lower than real GDP.
Ostensible Gross domestic product is determined by increasing the ongoing year amount yield by the ongoing business sector cost.In the preceding example, Year 1's nominal GDP is $1000 (100 x $10), and Year 5's nominal GDP is $2250 (150 x $15).
The nominal gross domestic product (GDP) is GDP expressed in terms of current prices, not including inflation.By expressing the values of all goods and services produced during the current reporting period, current GDP price estimates can be derived.
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