Final answer:
The industry convention to show asset performance over time by adjusting for inflation is known as real growth or inflation-adjusted growth convention.
Step-by-step explanation:
Industry convention displays the performance of an asset over time by adjusting for inflation, which is known as real growth convention or inflation-adjusted growth convention. Nominal values represent statistics in current prices, while real values adjust for inflation, reflecting the actual increase in quantity of goods produced and purchasing power. To compare economic performance accurately over different periods, nominal GDP or other statistics must be converted to real terms using a price index and a base year.