Definitions for GDP
gdp

Princeton's WordNetRate this definition:5.0 / 1 vote

1. gross domestic product, GDPnoun

   the measure of an economy adopted by the United States in 1991; the total market values of goods and services produced by workers and capital within a nation's borders during a given period (usually 1 year)

WikipediaRate this definition:0.0 / 0 votes

1. gdp

   Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the per capita GDP (also called the Mean Standard of Living). GDP definitions are maintained by a number of national and international economic organizations. The Organisation for Economic Co-operation and Development (OECD) defines GDP as "an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production and services (plus any taxes, and minus any subsidies, on products not included in the value of their outputs)". An IMF publication states that, "GDP measures the monetary value of final goods and services—that are bought by the final user—produced in a country in a given period of time (say a quarter or a year)."GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the "world's" most powerful statistical indicator of national development and progress". However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities, such as resource extraction, environmental impact and unpaid domestic work. Critics frequently propose alternative economic models such as doughnut economics which use other measures of success or alternative indicators such as the OECD's Better Life Index as better approaches to measuring the effect of the economy on human development and well being.

ChatGPTRate this definition:0.0 / 0 votes

1. gdp

   Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. It serves as a comprehensive measure of a nation's overall economic activity, indicating the health and size of a nation's economy. It includes all private and public consumption, government outlays, investments, additions to private inventories and foreign balance of trade.

Suggested ResourcesRate this definition:0.0 / 0 votes

1. GDP

   What does GDP stand for? -- Explore the various meanings for the GDP acronym on the Abbreviations.com website.

Matched Categories

1. • Value

How to pronounce GDP?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say GDP in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of GDP in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of GDP in Pythagorean Numerology is: 9

Examples of GDP in a Sentence

1. Christine Lagarde:

   With revenues down, fiscal deficits are only slowly declining, despite significant reforms on both the spending and revenue sides, including the introduction of VAT and excise taxes, this has led to a sharp increase in public debt, from 13 percent of GDP in 2013 to 33 percent in 2018.

2. Capital Economics economist Liza Ermolenko:

   Putting all of this together, our GDP Tracker suggests that the Russian economy contracted by around 5 percent year-on-year at the start of Q3, and looking further ahead, the fall in oil prices and the weakening of the rouble since July mean that Q3 as a whole is unlikely to see any improvement.

3. Janet Yellen:

   Over the last three years, corporate tax collections have fallen to their lowest level in my lifetime -- 1 % in GDP.

4. Janelle Nelson:

   What is positive about the GDP number is that it showed consumers are strong.

5. Chief Executive Stuart Gulliver:

   We're still reasonably confident that Chinese economic growth will be at the numbers we thought previously, while we probably haven't fully seen the impact of bad debts from the sell-off in the stock market ... we're still very much looking for 7 percent or 7.1 percent GDP growth this year for China.

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References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=GDP
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Gdp
3. ^ ChatGPT
   https://chat.openai.com