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v. t. e. 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 often used to measure the economic health of a country or region. [3] Definitions of GDP are maintained by several national and ...
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates .
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.
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 gross world product (GWP), also known as gross world income (GWI), is the combined gross national income (previously, the "gross national product") of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP).
Gross regional domestic product. Gross regional domestic product ( GRDP ), gross domestic product of region ( GDPR ), or gross state product ( GSP) is a statistic that measures the size of a region 's economy. It is the aggregate of gross value added (GVA) of all resident producer units in the region, and analogous to national gross domestic ...
The Commerce Department had previously estimated that the nation’s gross domestic product — the total output of goods and services — ex US economic growth last quarter is revised down from 1 ...
Consumption is the act of using resources to satisfy current needs and wants. [1] It is seen in contrast to investing, which is spending for acquisition of future income. [2] Consumption is a major concept in economics and is also studied in many other social sciences . Different schools of economists define consumption differently.