Real versus nominal value (economics)
Gross domestic product (GDP) is a measure of aggregate output. Nominal GDP in a particular period reflects prices which were current at the time, whereas real GDP compensates for inflation. Price indices and the U.S. National Income and Product Accounts are constructed from bundles of commodities and their respective prices. In the case of GDP, a suitable price index is the GDP price index. In the U.S. National Income and Product Accounts, nominal GDP is called "GDP in current dollars" (that is, in prices current for each designated year), and real GDP is called "GDP in [base-year] dollars" (that is, in dollars that can purchase the same quantity of commodities as in the base year).
National Income and Product Accounts
The sum of the four production categories is gross domestic product, the value of all domestic expenditures on goods and services. GDP (income) must equal GDP (production) except for any rounding error that accumulates when the data used to prepare a table includes rounding at prior stages of analysis, as appears to have happened in this case.