what is GDP?

Answer 1

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A region's gross domestic product, or GDP, is one of the ways for measuring 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. It is also considered the sum of value added at every stage of production 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 in the United States(USA). The two terms GDP and GNP are almost identical - and yet entirely different; GDP being concerned with the region in which income is generated and GNP (or GNI - Gross National Income) being a measure of the accrual of income to a region. 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 is not included. With 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:

Private consumption is a central concern of welfare economics. The private investment and trade portions of the economy are ultimately directed (in mainstream economic models) to increases in long-term private consumption.
If separated from endogenous private consumption, government consumption can be treated as exogenous, so that different government spending levels can be considered within a meaningful macroeconomic framework.

Answer 2

The gross domestic product (GDP) is the primary indicator used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy.

Answer 3

GDP is Gross Domestic Product. It is arrived at by economists and financial experts considering the achievements such as productions in various sectors such as agriculture, animal husbandry, power, oil, coal, automobiles etc. The process of arriving at a GDP figure of the nations involves many inputs of data. nagarajan.

Answer 4

first answer is correct addition u can work out in INR also like $.....but in india because of the back money grey market , lack of aclaer cut polict etc experts say the error on the calculation is mote than 20% which makes it not so relevant.

Answer 5

gross domestic product & stands for total goods produced worth in american dollars

Answer 6

Gross Deposit Policy.

Answer 7

gross domestic products

Answer 8

government deposit policy.