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gross domestic product |
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gross domestic product: see gross national product gross domestic product plus income earned by domestic residents through foreign investments minus the income earned by foreign investors in the domestic market. Gross domestic product, often confused with GNP, is calculated from the total value of goods and services produced in an ..... Click the link for more information. . gross domestic product (GDP)Total market value of the goods and services produced by a nation's economy during a specific period of time. GDP is customarily reported on an annual basis. It is defined to include all final goods and services—that is, those that are produced by the economic resources located in that nation regardless of their ownership and are not resold in any form. GDP differs from gross national product (GNP), which is defined to include all final goods and services produced by resources owned by that nation's residents, whether located in the nation or elsewhere. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The "Celtic Tiger", as Ireland is known in financial circles, boasts a vibrant, globalized economy with the second highest Gross Domestic Product per capita in the European Union, topped only by Luxembourg. As Johnny Munkhammar of the libertarian Swedish think tank Timbro documents in European Dawn: After the Social Model, government spending as a percentage of gross domestic product fell in most developed countries between 1993 and 2003. Chapman's index takes stock of gross domestic product values, exports, state construction spending and the Standard & Poor's 500. |
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gross domestic product
