In recent history, real GDP has risen less rapidly than nominal GDP.This is because

Question

Quizplus · Accepted Answer

Real GDP is adjusted for inflation, so if the general price level (i.e. inflation) is rising, nominal GDP will increase faster than real GDP. This means that while the total value of goods and services produced (nominal GDP) may be increasing, the actual purchasing power of that GDP may not be increasing as quickly due to inflation.

In Recent History, Real GDP Has Risen Less Rapidly Than