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.
GDP (Gross Domestic Product) is the total monetary value of goods and services produced over a given period in a given. territory. GDP is used in macroeconomics for determining the economic performance of individual states. The word product. expresses increase of wealth. The period is usually a year. Change in GDP for a certain period reflects the speed of economic. growth of the country. In international comparisons adjusted GDP per capita is also used, which can be used as a rough measure.