Nominal GDP is the economic output of a country of all the goods and services in the market on a final basis while real GDP is the economic output

Nominal GDP is the economic output of a country of all the goods and services in the market on a final basis while real GDP is the economic output

Nominal GDP is the economic output of a country of all the goods and services in the market
on a final basis while real GDP is the economic output of a country with an adjustment of actual
price changes in the market and with an inclusion of inflation. This, in itself, is one difference.
Another difference comes in where nominal GDP is higher than real GDP due to having factored

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