Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation). This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output.
Read more about Real Gross Domestic Product: Relationship With Nominal GDP, Relationship With Purchasing Power
Famous quotes containing the words real, gross, domestic and/or product:
“I’m not making light of prayers here, but of so-called school prayer, which bears as much resemblance to real spiritual experience as that freeze-dried astronaut food bears to a nice standing rib roast. From what I remember of praying in school, it was almost an insult to God, a rote exercise in moving your mouth while daydreaming or checking out the cutest boy in the seventh grade that was a far, far cry from soul-searching.”
—Anna Quindlen (b. 1952)
“We perceive no charms that are not sharpened, puffed out, and inflated by artifice. Those which glide along naturally and simply easily escape a sight so gross as ours.”
—Michel de Montaigne (1533–1592)
“Let me obtain forgiveness of thee, Samson,
Afford me place to shew what recompence
Towards thee I intend for what I have misdone,
Misguided; only what remains past cure
Bear not too sensibly, nor still insist
To afflict thy self in vain: though sight be lost,
Life yet hath many solaces, enjoy’d
Where other senses want not their delights
At home in leisure and domestic ease,”
—John Milton (1608–1674)
“The site of the true bottomless financial pit is the toy store. It’s amazing how much a few pieces of plastic and paper will sell for if the purchasers are parents or grandparent, especially when the manufacturers claim their product improves a child’s intellectual or physical development.”
—Lawrence Kutner (20th century)