GDP is a term you would have likely heard in the reporting of financial news, but what does it actually mean? Standing for ...

As the table above indicates, the main difference between nominal GDP and real GDP is the taking of inflation into account. Since nominal GDP is calculated using current prices, it does not ...

What are GDP and GVA, and why should you care? When you think about how the economy impacts your daily life—your job, your income, or even the price of essentials—two key terms often come into ...