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Reference.org
Real and nominal value
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<p>In <a href="/facts/Economics/HYctA2Dn">economics</a>, nominal value refers to value measured in terms of absolute <a href="/facts/Money/3BYGU6C8">money</a> amounts, whereas real value is considered and measured against the actual <a href="/facts/Goods_or_services/zsMmYyUJ">goods or services</a> for which it can be exchanged at a given time. Real value takes into account inflation and the <a href="/facts/Value_(economics)/76jsyB6X">value</a> of an asset in relation to its <a href="/facts/Purchasing_power/y6HTh5L4">purchasing power</a>. In macroeconomics, the <a href="/facts/Real_gross_domestic_product/dSN7ff2p">real gross domestic product</a> compensates for inflation so economists can exclude inflation from growth figures, and see how much an economy actually grows. Nominal GDP would include inflation, and thus be higher. </p>