From 2013 to 2014, Nominal Gross Domestic Product (GDP) in the united states increased by 2.2 percent. Nominal gross domestic product is GDP calculated using the most recent market prices. GDP measures the monetary worth of all the goods and services a nation produces.
Nominal Gross Domestic Product differs from real GDP in that it takes inflation into account, which represents how quickly prices are rising in an economy. One way to gauge an economy's health and well-being is to look at its gross domestic product. It is the total worth of all things and services produced over a specific time period less the value of those who worked on those goods and services.
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