Real Gross National Product (Noun)
Meaning
A version of the GNP that has been adjusted for the effects of inflation.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The real gross national product provides a more accurate picture of the country's economic performance over time, as it is not distorted by the effects of inflation.
- When adjusted for inflation, the real gross national product grew at an annual rate of only 2 percent.
- Economists use the real gross national product to compare the economy's performance from one year to the next.
- The country's real gross national product increased significantly last year due to a strong manufacturing sector.
- By using the real gross national product, policymakers can make more informed decisions about monetary policy.