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Glite Dictionary
real gross national product

real gross national product

6.7
Total value of goods and services a country makes measured with prices kept the same over time
  • noun
  • /riːəl ɡroʊs ˈnæʃənəl ˈprɒdʌkt/
  • Specialized
translation icon : producto nacional bruto real
  • In recent years, the real gross national product has shown signs of recovery as inflation stabilized.

Examples

  • The real gross national product reflects the economy's growth after adjusting for inflation.

  • Since the beginning of its export-oriented economic growth in the mid-1960s, the real gross national product of the Republic of China (ROC) on Taiwan grew at an average rate of nearly 9 percent a year.

    Academic text (1992)

  • Analysts use real gross national product to compare economic performance over different years.

Synonyms

real GNP
vsreal gross national product
  • Specialized
1 6.3

Total value of a country's goods and services using prices that ignore inflation

is the full written name rather than the shorter abbreviation

Surface Forms

real gross national product singular
real gross national products plural

Morphology

real + gross + national + product

Each component contributes directly to the meaning: 'gross' = total, 'national' = of the country, and 'product' = output, so 'gross national product' denotes the total national output; 'real' specifically marks adjustment for inflation. Although this is a technical economic term, its meaning is compositionally derived and parallels terms in many languages, so a learner who knows the constituent words can infer the phrase.

Etymology

Real gross national product comes from the idea of measuring a country's output with the same ruler each year. The words real, gross, national, and product mean the total goods and services for a country changed to remove rises in prices, so it shows 'true' growth rather than just higher prices.