THE REAL GDP

The Real GDP

The Real GDP

Introduction

Gross Domestic Product (GDP) refers to as the measure of the total value of all goods and services that are produced in an economy. GDP is one of the most important indicator which demonstrates the performance of an economy. U.S. GDP for the first quarter of 2008 was estimated at $11.6 trillion. The change in the value of GDP from one quarter to another, in percentage form, is a measure of economic growth. When GDP is adjusted (deflated) for price changes, it is called real GDP. A positive percentage change in real GDP is an ...