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

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Real GDP is calculated by adjusting nominal GDP for changes in the general price level, using a price index such as the Consumer Price Index (CPI) or the Gross Domestic Product Deflator (GDP deflator). If the general price level rises (inflation), then the growth in nominal GDP will exceed the growth in real GDP, because the same amount of goods and services is being valued at a higher price.

In Recent History, Real GDP Has Risen Less Rapidly Than