The gross income of a company, divided by the net sales, and expressed as a percentage. The leaders of these countries meet annually, accompanied by officials, to discuss major political and economic issues of mutual concern. In addition, G-7 finance ministers meet several times a year to discuss economic policy. Their work is supported by regular, functional meetings of officials, including the G-7 Finance Deputies. A percentage increase in the production of goods and services over a given period.
Nominal growth is the increase including changes in prices.
Real growth is the increase excluding changes in prices. Growth or economic growth may refer to either measure. Statisticians and economists have developed a concept called constant dollars so that they can exclude changes in prices from measures of growth. Constant dollar GDP is a measure using the prices of a base year. Changes in constant dollar GDP capture changes only in actual or real production.