Inflation-adjusted (Real) Gross Domestic Product (GDP) Measure

Context:
- It can (often) be a National Real GDP.
- It can be associated with a Real GDP Growth Rate.
- …
Example(s):
- Real U.S. GDP.
- Real Canada GDP.
- Real Germany GDP.
- Real China GDP.
- …
Counter-Example(s):
- Nominal GDP.
See: Macroeconomic, Output (Economics), Inflation (Economics), Deflation, Index (Economics).

References

(Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/Real_gross_domestic_product Retrieved:2014-4-6.
- 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). ^[1] This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. GDP is the sum of consumer Spending, Investment made by industry, Excess of Exports over Imports and Government Spending. Due to inflation GDP increases and does not actually reflect the true growth in economy. That is why inflation rate must be subtracted from the GDP to get the real growth percentage called the real GDP.

(Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/Gross_domestic_product#Nominal_GDP_and_adjustments_to_GDP Retrieved:2014-4-6.
- The GDP adjusted for changes in money value in this way is called the real, or constant, GDP.
  The factor used to convert GDP from current to constant values in this way is called the GDP deflator. Unlike consumer price index, which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment goods and government services, as well as household consumption goods.