GDP inEconomics topic From Longman Dictionary of Contemporary EnglishGDP/ˌdʒiː diː ˈpiː/noun[singular](gross domestic product)thetotalvalueof all goods and services produced in a country, in one year,exceptforincomereceivedfrom abroad→GNP...
Noun1.GDP- the measure of an economy adopted by the United States in 1991; the total market values of goods and services produced by workers and capital within a nation's borders during a given period (usually 1 year) gross domestic product ...
经济学economicsdefinitionmarginalcurrency定义 经济学定义(Definitionofeconomics) Grossdomesticproduct(GDP)referstothesumofthemarket valueofallthefinalproducts(goodsandservices)produced byacountryoracertainregionwithinacertaintime. Grossnationalproduct(GNP)referstothevalueofthefinal productproducedbythetotalproductionfa...
内容提示: 经济学定义(Definition of economics) Gross domestic product (GDP) refers to the sum of the market value of all the final products (goods and services) produced by a country or a certain region within a certain time. Gross national product (GNP) refers to the value of the final ...
Provide a definition for GDP. Explain what it omits to avoid multiple counting and what it fails to capture.Macroeconomics:Economics is a social science that is divided into two main branches; microeconomics and macroeconomics. Macroeconomics refers to studying ...
Real GDP | Definition, Differences & Calculation Output in Economics | Definition, Importance & Measure Overview of the Gross Domestic Product Real GDP Growth Rate | Definition, Formula & Examples Real GDP Per Capita | Definition, Formula & Calculation Real GDP: Definition & Formula Real Output, ...
Discover what nominal GDP in economics is, and examine its importance and its uses. Know its formula and learn how to find it through the given examples. Updated: 11/21/2023 Table of Contents What is Nominal GDP? What is the Formula for Nominal GDP? Nominal GDP Examples Lesson Summary...
Indexing, broadly, refers to the use of somebenchmarkindicator or measure as a reference or yardstick. In finance and economics, indexing is used as a statistical measure for tracking economic data such as inflation, unemployment, gross domestic product (GDP) growth, productivity, and market retur...
Expansion is the phase of the business cycle where real GDP grows for two or more consecutive quarters, moving from a trough to a peak.
Definition:Gross Domestic Product, or GDP, represents the total value of a country’s economic output in a given time period. In other words, it’s the dollar amount of all goods and services that a country produces during the period. The GDP formula is calculated by adding up all of con...