Definitions for "Real Gross Domestic Product"
GDP measured in dollars of constant purchasing power. The measure is obtained by adjusting nominal GDP (GDP measured in current prices) by an appropriate price index — usually the implicit price deflator. Often used as a measure of economic activity.
a measure of the value of all the goods and services newly produced in a country during some period of time, adjusted for inflation.
It refers to gross domestic product valued at constant prices to eliminate the impact of price changes.