Real GDP is calculated by dividing nominal GDP by a GDP deflator ... and growth of goods and services in an economy, it is usually reviewed from two angles: real and nominal.

GDP measures the monetary value of final goods and services—that is ... the volume of shoes produced rose 2 percent). Deflators present their own difficulties. The more precise the deflator, the more ...

Gross domestic product, or GDP, measures a country’s economic growth. The converted value of all final goods and services ... There are also two distinct GDP figures: Nominal and real GDP.