GDP


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GDP

Gross Domestic Product

A measure of the value of the total production in a country, usually in a given year. Gross domestic product is calculated by adding together total consumer spending, total government spending, total business spending, and the value of net exports. GDP is considered one of the leader indicators of the health of a nation's economy. GDP growth is considered desirable and represents the fact that businesses are producing and that consumers and the government are buying. It is often used as a way to measure a country's standard of living. See also: GNP.

GDP

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.

GDP

see GROSS DOMESTIC PRODUCT.

GDP

see GROSS DOMESTIC PRODUCT.
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For the TVC GDP model, the minimum mean-squared error over this time period is achieved when ||Lambda~.
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