Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation). This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output.
Read more about Real Gross Domestic Product: Relationship With Nominal GDP, Relationship With Purchasing Power
Famous quotes containing the words real, gross, domestic and/or product:
“I find that principles have no real force except when one is well fed.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“We perceive no charms that are not sharpened, puffed out, and inflated by artifice. Those which glide along naturally and simply easily escape a sight so gross as ours.”
—Michel de Montaigne (1533–1592)
“Anyone who wishes to combine domestic responsibilities and paid employment with the least stress and most enjoyment might start by pondering this paradox: the first step to better functioning is to stop blaming herself for not functioning well enough.”
—Faye J. Crosby (20th century)
“Poetry, whose material is language, is perhaps the most human and least worldly of the arts, the one in which the end product remains closest to the thought that inspired it.... Of all things of thought, poetry is the closest to thought, and a poem is less a thing than any other work of art ...”
—Hannah Arendt (1906–1975)