The value of final output produced in a given period,measured in current prices,is

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Nominal GDP measures the value of final output produced in a given period, using current prices. This means that it does not account for changes in prices over time, unlike real GDP which adjusts for inflation. NDP (Net Domestic Product) is similar to GDP but subtracts depreciation, and GNP (Gross National Product) measures the value of goods and services produced by a country's citizens, regardless of where they are located in the world.

The Value of Final Output Produced in a Given Period,measured