Nominal and Real
GDP
GROUP: 7
, GDP at current price is known as Nominal GDP.
The market value of final goods and services produced
within the country’s territory is Nominal GDP.
Formula to calculate Nominal GDP is C + I + G + (X – M)
Nominal Where, C = Private Consumption
GDP I = Gross Investment
G = Government Investment
X = Exports
M = Imports
GDP
GROUP: 7
, GDP at current price is known as Nominal GDP.
The market value of final goods and services produced
within the country’s territory is Nominal GDP.
Formula to calculate Nominal GDP is C + I + G + (X – M)
Nominal Where, C = Private Consumption
GDP I = Gross Investment
G = Government Investment
X = Exports
M = Imports
