What does "GDP'' stands for, and what does it mean?

Answer 1

Gross domestic product

Answer 2

Gross Domestic Product. (Y= c+i+G+ NX) It is composed of:
1. Consumption expenditures: purchases by consumers
2.Private Investment expenditures: purchases by firms
3. Gov't expenditures: Purchases by local, state and federal
4. Net Exports: domestic exports - domestic imports

The most important thing to remember about GDP is that it only takes into account newly produced goods (new car, home etc.) and not second hand goods (used car, old house etc.) GDP also ignores the underground economy-- drugs, organs, guns

Answer 3

It's a little complicated, in short, the 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.

If you want to know more go to:
http://en.wikipedia.org/wiki/Gross_domestic_product

Answer 4

Gross Domestic Product, which in the United States used to more commonly be called Gross National Product.

Roughly speaking, it's the total value of all economic output in a country for a year.

Answer 5

Gross domestic product.Stands for total value of internal production of a country

Answer 6

Gross domestic product.