What is Gross Domestic Product?

Question

please tell me!

Answer 1

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Gross domestic product
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IMF 2005 figures of GDP of nominal compared to PPP.A region's gross domestic product, or GDP, is one of several measures of the size of its economy. The GDP of a country is defined as the market value of all final goods and services produced within a country in a given period of time. Until the 1980s the term GNP or gross national product was used. The two terms GDP and GNP are almost identical. The most common approach to measuring and understanding GDP is the expenditure method:

GDP = consumption + investment + government spending + (exports − imports)
"Gross" means depreciation of capital stock included. Without depreciation, with net investment instead of gross investment, it is the Net domestic product. Consumption and investment in this equation are the expenditure on final goods and services. The exports minus imports part of the equation (often called cumulative exports) then adjusts this by subtracting the part of this expenditure not produced domestically (the imports), and adding back in domestic production not consumed at home (the exports).

Economists (since Keynes) have preferred to split the general consumption term into two parts; private consumption, and public sector (or government) spending. Two advantages of dividing total consumption this way in theoretical macroeconomics are:

Answer 2

Answer below was taken from Wikipedia:

A region's gross domestic product, or GDP, is one of several measures of the size of its economy. The GDP of a country is defined as the market value of all final goods and services produced within a country in a given period of time. Until the 1980s the term GNP or gross national product was used. The two terms GDP and GNP are almost identical. The most common approach to measuring and understanding GDP is the expenditure method:

GDP = consumption + investment + government spending + (exports − imports)

"Gross" means depreciation of capital stock included. Without depreciation, with net investment instead of gross investment, it is the Net domestic product. Consumption and investment in this equation are the expenditure on final goods and services. The exports minus imports part of the equation (often called cumulative exports) then adjusts this by subtracting the part of this expenditure not produced domestically (the imports), and adding back in domestic production not consumed at home (the exports).

Answer 3

The Gross Domestic Product (GDP) is the total market value of all goods and services produced in a country in a given period of time. For example, the U.S. may have a GDP of 130 Trillion dollars for 2006.

Answer 4

The GDP of a country is defined as the market value of all final goods and services produced within a country in a given period of time.

Answer 5

All the money a country makes on its own (mostly its exports)
minus all the money they spend on imports
equals
GDP

Answer 6

for example, a tampon is a gross, domestic, product.

Answer 7

it basically means the profit that is made from products that are made here...but sold in other countries ...get it?