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:
“The ravaged face in the mirror hides the enchanting youth that is the real me.”
—Mason Cooley (b. 1927)
“How fearful
And dizzy ‘tis, to cast one’s eyes so low!
The crows and choughs that wing the midway air
Show scarce so gross as beetles. Half way down
Hangs one that gathers samphire, dreadful trade!”
—William Shakespeare (1564–1616)
“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)
“[The political mind] is a strange mixture of vanity and timidity, of an obsequious attitude at one time and a delusion of grandeur at another time. The political mind is the product of men in public life who have been twice spoiled. They have been spoiled with praise and they have been spoiled with abuse.”
—Calvin Coolidge (1872–1933)