What does GDP mean and what does it stand for?

Question

Social Studies

Jovani Camacho

16 June, 08:32

What does GDP mean and what does it stand for?

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Answers (2)

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America Gay · Answer 1

Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

Haas · Answer 2

Gross domestic product (GDP) is one of the most common indicators used to track the health of a nation's economy. It represents the total dollar value of all goods and services produced over a specific time period, often referred to as the size of the economy.