Title is self-explanatory.
It’s probably really simple, but for some reason I’ve never been able to understand it. Much thanks in advance!
In: 4
Do you mean nominal vs real? Nominal GDP is the GDP in dollars, real GDP is GDP adjusted for inflation.
The difference would be if nominal GDP grew by 2% but inflation was also 2%, then the real GDP would remain the same, even though nominal went up 2%
PPP could mean purchasing power parity, but not sure what you are thinking of. Purchasing power parity is related to inflation, but essentially compares currencies by what they can buy. E.g. if I can buy a big Mac for $7 USD, and 700 yen, then one USD would be worth 1/100 yen.
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