Real GDP is nominal GDP divided by the GDP price deflator in a base year ... is the total value of goods and services produced in a given period, usually measured over the course of a year.

Real GDP takes inflation into account by converting the nominal figure using a constant value of money from a past base year (called a GDP deflator ... most famous GDP formula uses the expenditure ...

Real GDP is an inflation-adjusted measure that reflects the quantity of goods and services produced by an economy in a given year ... then the deflator would be 1.05. Nominal GDP is divided ...