[{"data":1,"prerenderedAt":58},["ShallowReactive",2],{"term:real-gdp":3},{"term":4,"related":45},{"id":5,"title":6,"body":7,"category":27,"description":28,"extension":29,"faq":30,"meta":31,"navigation":32,"path":33,"related":34,"seo":38,"stem":39,"takeaways":40,"__hash__":44},"terms\u002Fterms\u002Freal-gdp.md","Real GDP",{"type":8,"value":9,"toc":22},"minimark",[10,15,19],[11,12,14],"h2",{"id":13},"understanding-real-gdp","Understanding Real GDP",[16,17,18],"p",{},"Nominal GDP can rise just because prices rise. Real GDP values output at the prices of a base year (or with chain-weighting), so it isolates growth in actual production.",[16,20,21],{},"Economic growth rates and recessions are measured with real GDP.",{"title":23,"searchDepth":24,"depth":24,"links":25},"",2,[26],{"id":13,"depth":24,"text":14},"economy","GDP measured at constant prices, so it changes only when the quantity of output changes.","md",[],{},true,"\u002Fterms\u002Freal-gdp",[35,36,37],"gdp","gdp-deflator","output-gap",{"title":6,"description":28},"terms\u002Freal-gdp",[41,42,43],"Real GDP removes the effect of price changes.","Growth rates use real GDP.","Nominal GDP ÷ real GDP gives the GDP deflator.","mb7St-B8c6vEGYUf5LOt23Pixms5nBJXhJ2abGiDaJQ",[46,50,54],{"title":47,"description":48,"path":49},"Gross Domestic Product (GDP)","The total value of goods and services produced in a country over a period.","\u002Fterms\u002Fgdp",{"title":51,"description":52,"path":53},"GDP Deflator","A price index covering everything produced in an economy.","\u002Fterms\u002Fgdp-deflator",{"title":55,"description":56,"path":57},"Output Gap","The difference between actual GDP and potential GDP.","\u002Fterms\u002Foutput-gap",1793374005786]