Nominal Gross Domestic Product (nominal GDP)

The current value of all goods and services produced in the economy with no adjustment for the effect of inflation.

Suppose during the year 2012 country X produced only two goods. It produced 100 cars priced at $100 each and 200 breads priced at $10 per loaf. Then the nominal GDP of the country for that year was 100*$100 + 200*$10 = $12,000 with no adjustments for the effects of price changes since 2011.
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