If economists calculate the GDP for 2009 using current prices of the year 2009, they are estimating nominal GDP. Nominal GDP measures a country's economic output without adjusting for inflation, meaning it reflects the total value of goods and services produced in a given year at the prices existing in that same year.
If economists calculate the GDP for 2009, using current prices of year 2009, what are they estimating?
depreciation
net national product
nominal GDP
real GDP
1 answer
8 answers