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Gross domestic product ( GDP) is a monetary measure of the market value [2] of all the final goods and services produced and rendered in a specific time period by a country [3] or countries. [4] [5] [6] GDP is more often used by the government of a single country to measure its economic health. [3] Due to its complex and subjective nature, this ...
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).
Real gross domestic product ( real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation ). [1] This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely ...
The green gross domestic product ( green GDP or GGDP) is an index of economic growth with the environmental consequences of that growth factored into a country's conventional GDP. Green GDP monetizes the loss of biodiversity, and accounts for costs caused by climate change. Some environmental experts prefer physical indicators (such as " waste ...
The Bureau of Economic Analysis's advance estimate of fourth quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 3.3% during the period, faster than consensus ...
Seven summary accounts are published, as well as a much larger number of more specific accounts. The first summary account shows the gross domestic product (GDP) and its major components. The table summarizes national income on the left (debit, revenue) side and national product on the right (credit, expense) side of a two-column accounting report.
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. [1] Statisticians conventionally measure such growth as the percent rate of increase in the real and nominal gross domestic product (GDP). [2]
The gross national income ( GNI ), previously known as gross national product ( GNP ), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product ( GDP ), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents. [2] : 44.
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