Glossary

A NIPA alternative measure of changes in U.S. production relative to the reference year, adjusted for inflation. It is calculated by deflating gross domestic income (the sum of incomes earned and costs incurred in the production of GDP) using the GDP price index as the deflator, and thus it is conceptually equivalent to real GDP. In contrast, in the SNA, real GDI is a measure of the purchasing power of the total incomes generated by domestic production, adjusting for changes in the terms of trade; in the NIPAs, this measure is termed “command-basis GDP.”