Nominal GDP is an assessment of economic production ... of an economy and boosts employment levels. The net exports formula subtracts total exports from total imports (NX = Exports - Imports).

As you all know, Gross Domestic Product (GDP) is an important economic term that is used to represent the final value of goods and services produced within a country’s borders in a specific period of ...

Nominal GDP is the total value of goods and services ... of price changes on gross domestic product. The price deflator formula establishes a base year and compares current prices to the base ...

Yet nominal GDP remains the standardized measure across the world's largest economies. The widespread acceptance of a single equation is another reason why GDP is so popular. For example ...