Editing Real and nominal value (section)

{{Short description|Value in economics and accounting}}
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In [[economics]], '''nominal''' '''value''' refers to value measured in terms of absolute [[money]] amounts, whereas '''real value''' is considered and measured against the actual [[goods or services]] for which it can be exchanged at a given time. Real value takes into account inflation and the [[Value (economics)|value]] of an asset in relation to its [[purchasing power]]. In macroeconomics, the [[real gross domestic product]] 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.