gross domestic product (Meaning)
gross domestic product (n)
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)
Synonyms & Antonyms of gross domestic product
No Synonyms and anytonyms found
gross domestic product Sentence Examples
- The country's gross domestic product (GDP) grew by 3% last quarter, indicating a healthy economic expansion.
- The GDP is a measure of the total value of goods and services produced within a country's borders.
- A rising GDP often indicates increased economic activity and prosperity.
- The GDP can be divided into categories such as household consumption, business investment, and government spending.
- Economists use GDP to track economic growth and compare different countries' performances.
- A decline in GDP, known as a recession, can have negative consequences for employment and living standards.
- Government policies, such as fiscal and monetary measures, can influence the growth of GDP.
- The GDP per capita provides an indicator of a country's standard of living.
- International organizations, such as the World Bank, track GDP data to assess global economic trends.
- The GDP is a key economic indicator that helps policymakers and businesses make informed decisions.
FAQs About the word gross domestic product
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
No synonyms found.
No antonyms found.
The country's gross domestic product (GDP) grew by 3% last quarter, indicating a healthy economic expansion.
The GDP is a measure of the total value of goods and services produced within a country's borders.
A rising GDP often indicates increased economic activity and prosperity.
The GDP can be divided into categories such as household consumption, business investment, and government spending.
