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gross domestic product

gross national product excluding payments on foreign investments.
Abbreviation: GDP. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for gross domestic product
  • The shortcoming is in the way imports are accounted for in measures of gross domestic product and worker productivity.
  • In the last three decades, gross domestic product doubled but the typical worker's real wages barely increased.
  • gross domestic product is of course an imperfect measure of improving living standards, primarily because it is incomplete.
British Dictionary definitions for gross domestic product

gross domestic product

the total value of all goods and services produced domestically by a nation during a year. It is equivalent to gross national product minus net investment incomes from foreign nations GDP
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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gross domestic product in Culture
gross domestic product (GDP)

The monetary value of all of a nation's goods and services produced within a nation's borders and within a particular period of time, such as a year. It became the official measure of the U.S. economy in 1991. It replaced “gross national product,” which covered all goods and services produced by U.S. residents regardless of where they were working.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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