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Gross domestic product |
Also found in: Encyclopedia, Wikipedia, Hutchinson | 0.06 sec. |
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Gross domestic product (GDP) The market value of final goods and services produced over time including the income of foreign corporations and foreign residents working in the U.S., but excluding the income of U.S. residents and corporations overseas.
Gross domestic product (GDP). The total value of all the goods and services produced within a country's borders is described as its gross domestic product. When that figure is adjusted for inflation, it is called the real gross domestic product, and it's generally used to measure the growth of the country's economy. In the United States, the GDP is calculated and released quarterly by the Department of Commerce. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Rather than an invisible marketplace, Chandler argued, the leading conglomerates of the early twentieth century coordinated and controlled economic production and distribution. Japan remains committed to economic production to pull Africa out of its poverty and is focused on loans as a means to ensure correct economic policies. China's agreement with ASEAN created "the world's third major trading bloc--a new open market of 2 billion people with an overall economic production of around $2 trillion," reported the Washington Times on December 9. |
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