The formula for GDP is: GDP = C + I + G + (X-M ... The three types of GDP are nominal, actual, and real. Nominal GDP is the value of all goods and services produced at current market prices.

Real gross domestic product is often a more accurate reflection of the output of an economy than nominal GDP. By eliminating the distortion caused by inflation or deflation or by fluctuations in ...

The real economic growth rate removes inflation in its measurement of economic growth, unlike the nominal GDP growth rate. Real GDP can be calculated by adjusting nominal GDP by inflation.