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One of the factors causing the shrinking gap between rich and poor countries is
Real GDP
Real GDP refers to the total economic output of a country, adjusted for price changes or inflation, representing the actual value of goods and services produced over a specific period.
GDP
Summarizing the value of all final goods and services made within a country's borders in monetary or market terms during a specific time frame is what Gross Domestic Product is about.
GDP Deflator
A metric that assesses the prices of all new, internally produced final goods and services in an economic system, employed in the adjustment of nominal GDP to real GDP.
Real GDP
Real Gross Domestic Product (Real GDP) measures the value of all finished goods and services produced within a country's borders in a specific period, adjusted for inflation.
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