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Gross domestic product is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to...
Traditionally, aggregate economic growth is measured in terms of gross national product (GNP) or gross domestic product (GDP), although alternative metrics are sometimes used. Key Takeaways....
GDP measures the monetary value of final goods and services—that is, those that are bought by the final user—produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
What Is Economic Growth? The term economic growth denotes growth in the production of goods and services within a particular period, commonly assessed by using indicators such as Gross Domestic Product (GDP) or Gross National Product (GNP).
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. [1] Statisticians conventionally measure such growth as the percent rate of increase in the real and nominal gross domestic product (GDP).
Key Takeaways. Gross domestic product tracks the health of a country's economy. It represents the value of all goods and services produced over a specific time period within a...
GDP growth (annual %) Long definition: Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars.