GDP is an acronym which can stand for more than one thing:
(in economics) an abbreviation for Gross Domestic Product
(in neuroscience) an abbreviation for Giant Depolarizing Potentials.
(in biochemistry) an abbreviation for guanosine diphosphate
(in baseball) an abbreviation for grounded into double play
(in computer science) an abbreviation for Graphic Display Processor.
In economics GDP stands for:
A region's gross domestic product, or GDP, is one of the 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)
2006-10-16 15:37:04
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answer #1
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answered by metecus 3
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Google defines it as the following:
A country’s Gross Domestic Product (GDP) is a measure of the total flow of goods and services produced over a specified time period, usually a year. The word ‘gross’ means that no deduction for the value of expenditure on capital goods for replacement purposes is made. The word ‘domestic’ means that income arising from investment and possessions owned abroad is not included; and this distinguishes Gross Domestic Product (GDP) from Gross National Product (GNP).
Also:
Gross Domestic Product is a measure of the total economic activity occurring in the UK. It can be measured in three ways: Production Measures the Gross Domestic Product as the sum of all the Value Added by all activities which produce goods and services. (see Gross Value Added). Income (GDP(I)) Measures the Gross Domestic Product as the total of incomes earned from the production of goods and services.
Also:
Total value of goods and services produced in the US economy over a specific period of time, usually quarterly. The GDP is the primary indicator of the status of the economy. It includes consumer and government purchases, private domestic and foreign investments in the US, and the total value of exports. This data is released by the government quarterly, as is an inflation-adjusted version.
2006-10-16 15:38:16
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answer #2
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answered by shauny2807 3
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Gross Domestic Product= the total amount the country makes.
2006-10-16 15:52:37
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answer #3
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answered by Big Bear 7
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Gross Domestic Product
it's the total amount of how much a country makes
2006-10-16 15:32:29
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answer #4
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answered by Can I Be Your Pet? 6
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Gross Domestic Product in economic terms.
2006-10-16 17:38:08
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answer #5
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answered by MEL 1
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