Lesson summary: Real vs. nominal GDP (article) | Khan Academy
https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/real-vs-nominal-gdp/a/lesson-summary-real-vs-nominal-gdp
WEBLesson Overview. Even GDP needs to keep it real. When we calculate GDP using today’s prices, we are creating a measure called nominal GDP. However, prices can change even if output doesn’t change. Because of that, our measure of output might get distorted by something like inflation.
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