gross domestic product

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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

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.

gross domestic product (GDP)

The dollar output of final goods and services in the economy during a given period (usually one year). GDP is one measure of the economic vitality of a country and provides some indication of the health of near-term corporate income. See also economic activity.

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.

gross domestic product (GDP)

the total money value of all final goods and services produced in an economy over a one year period.

gross domestic product (GDP)

the total money value of all final GOODS and SERVICES produced in an economy over a one-year period. Gross domestic product can be measured in three ways:
  1. the sum of the value added by each industry in producing the year's output (the output method);
  2. the sum of factor incomes received from producing the year's output (the income method);
  3. the sum of expenditures on the year's domestic output of goods and services (the expenditure method).

In 2003, the UK's GDP totalled £1,100 billion (in current market prices). See Fig. 133 (b) , NATIONAL INCOME ACCOUNTS entry See Fig. 166 , REAL VALUES entry, which gives details of the UK's GDP for the period 1997–2003. See SECULAR TREND.

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The decision tree model constructed with the CART algorithm revealed GDP per capita as the most important determinant for estimating the share of GDP allocated to health expenditure.
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Furceri (2008) uses GDP per capita data of 175 countries between the years of 1980 and 2004 to determine whether the world-wide income distribution fits Zipf's Law.
To recall, GDP per capita, expressed in purchasing power, compared to the European average determines what a region can receive in aid from the EU Structural Funds: a region with an average GDP lower than 75% would be considered a 'less developed' region, one with a GDP between 75-90% would be a 'transition' region and a one with a GDP over 90% is seen as a 'more developed' region.
Today, the GDP per capita is a little bit more than $3 thsd in Armenia, and more than $12
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EU statistics agency says Bosnia and Herzegovina has the lowest GDP per capita of 37 European countries examined.
As you come here and you see the GDP per capita, for instance, in Israel which is about 21,000 dollars, and compare that with the GDP per capita just across the areas managed by the Palestinian Authority, which is more like 10,000 dollars per capita, you notice such a dramatically stark difference in economic vitality," he said in Israel.