Through this presentation you can get idea regarding Nominal GDP ,and i have also solved Nominal GDP problem ,so i hope it can help you to understand Nominal GDP.
2. NOMINAL GDP:
What is nominal GDP?
Nominal GDP measures a country's gross domestic product using current
prices, without adjusting for inflation. Contrast this with real GDP, which
measures a country's economic output adjusted for the impact of inflation.
Nominal economic statistics, also called current-dollar statistics, are not
adjusted to account for the price changes from inflation and deflation.
3. NOMINAL GDP:
The natural rise and fall (mostly rise) of prices is captured by nominal GDP,
which tracks the gradual increase of the value of an economy over time. If
overall gross domestic product rises 2 percent in a year and inflation runs at 2
percent over the same period, nominal GDP will be +4 percent for that year.
Nominal GDP is the preferred figure for comparing GDP to other variables that
also don’t adjust for inflation. For example, debt is always calculated and
expressed as a nominal figure, so debt-to-GDP ratios are always based on
nominal GDP. Because inflation is baked into nominal GDP figures, it can give
an inaccurate view of growth.