Nominal GDP is the monetary value of output produced in a country for a certain period (a year or quarter), measured at current prices. It contrasts with real GDP, which measures the same output but using constant prices, instead of current prices.
Gross Domestic Product
Gross Domestic Product (GDP) is the total market value of all final goods and services produced in the domestic economy during a certain period. Alternatively, we can also define GDP as the total expenditure or total income in the