The geographical areas used for establishing the AMI are either Metropolitan Statistical Areas (MSAâs) or counties. Keyport is in the Monmouth County, NJ MSA. The 2015 Area Median Income for a family of four in Keyport is $91,700. The income limits used for Section 8, public housing, Low Income Housing Tax Credits. the HOME program and other Federal programs all are derived from the HUD defined AMI.
Real GDP refers to the inflation-adjusted dollar value of the goods and services produced during a designated period. Inflation is a rise in prices. In real GDP, we factor the effect of inflation into the GDP calculation so we can compare GDP over time. Nominal GDP doesn't account for inflation. If we wanted to compare our hypothetical country's economy in 2000 and 2008, comparing a nominal GDP of $10.00 in 2000 to a nominal GDP of $25.38 doesn't really tell us what we want to know.
Selection of GDP PPP data (top 10 countries and blocks, 2016) in no particular order. Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly). Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.