What is nominal GDP?
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Posted by Gurpreet Kaur 5 years, 11 months ago
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Ayushi Malik 5 years, 11 months ago
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Yogita Ingle 5 years, 11 months ago
Nominal GDP. When goods and services included in GDP are valued at current prices, i.e., prices prevailing in the year for which GDP is being measured, it is called nominal GDP. For example, Nominal GDP of 2010 is the value of output produced in 2010 calculated at the market prices prevailing in 2010. In short Nominal GDP values current year's output in an economy at current year prices.
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