In economics, whats the difference between REAL GDP and just GDP??

Question

doing an economics essay and i keep coming across both terms but i am not sure what the difference is.

Answer 1

GDP is the amount of production/exporting of product that any given country does in a set amount of time (in dollar amounts). This reflects how well a country's economy is doing at the time; so naturally, countries that are doing poorly may want to tweak the impression given off by their GDPs. If a country's economy isn't doing well and inflation is high, products cost more to sell and produce; more money is being spent and by looking solely at GDP, the country appears to be doing well. Real GDP is a measure of the Gross Domestic Product of a country that is not affected by inflation. They are essentially the same thing, although real GDP is a truer reflection of a nation's economy.

Answer 2

(nominal) GDP is the exact dollar amount of all expenditures.   On the other hand, real GDP takes inflation into account.  economists calculate real GDP by subtracting nominal GDP by the amount of inflation we had that year.

Answer 3

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Answer 4

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Answer 5

gross domestic product is all of the aspects of the economy basically where real gdp im pretty sure is like exports and imports?