Nominal GDP or GDP at current price in a pool index to measure the economic growth of economy. It is defined as the value of current output at current prices. It is obtained by multiplying the goods and services produced in the current year with the the prices prevailing in the current year.
Free Music - Listen Audio Files -
GDP at current prices is also called monetary GDP. Each every country calculate GDP at current prices to estimate GDP in current prices by multiplying the value of all final goods and services produced in the current year with the the prices prevailing in the current year. Which estimate give only the money value of GDP is current price increase. These inflationary GDP at current prices will also become inflated if the output of final goods and services produced in current remains the same and current prices rise, then GDP at current prices will increase. It is important to note that rising GDP at current prices does not imply economic growth of an economy.
Formula :- 1) Nominal GDP =
Post a Comment