Define gross domestic product. gross domestic product synonyms, gross domestic product pronunciation, gross domestic product translation, English dictionary definition of gross domestic product. n. Abbr. GDP The total market value of all the goods and se
• An inflation measure linked to the gross domestic product had its smallest rise since 1964.• The gross domestic product annually grew, on average, 9. 8 % from 1987 to 1995.• The government will release a preliminary estimate of full-year gross domestic product tomorrow....
Learn the definition of gross domestic product (GDP) and review types and examples. Examine the four components of GDP and different approaches to...
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...
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Gross Domestic ProductGross domestic product (GDP) is a measure of national income which equals the market value of all final goods and services produced in the geographical boundaries of a country in a given time period.GDP is the single most important number in economics which is sliced and ...
Gross Domestic Product (GDP) CURRENT ARTICLE What Is GDP and Why Is It So Important? Consumer Spending Retail Sales Job Market Real World Economies Related Terms Applied Economics: Definition, How It Works, and How It's Used Applied economics refers to the use of economy-framed theori...
AcronymDefinition GPDP Gambia Party for Democracy and Progress (African political party) GPDP Green Productivity Demonstration Program GPDP General Pickup and Delivery Problem (transportation logistics) GPDP Generic Policy Development Process (New Zealand) GPDP Gross Prefectural Domestic Product (economics) GP...
Gross domestic product (GDP) has served as a workhorse in empirical work that measures aggregate output and economic growth. Higher levels of production are assumed to translate to higher levels of well-being, and GDP is often taken to be a measure of aggregate economic welfare. I assess the...