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gross domestic product (GDP)
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gross domestic product (GDP)
as in:  GDP of the United States

We’re hoping GDP growth of 4% will increase the number of available jobs.
  the total value of goods and services produced by a nation (or territory) in a year
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gross domestic product GDP
Strongly Associated with:   domesticated
Prior to 1992, economists generally spoke of Gross National Product (GNP) rather than Gross Domestic Product (GDP). A difference between the two numbers grew with the importance of multi-national companies.

GDP measures output produced in a nation regardless of where the owner of the company doing the production exists, but GNP measures the output of a nation’s firms regardless of where they are located. For example, if Toyota owns a plant in the US, the plant’s production is in included in U.S. GDP and in Japan’s GNP.
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  • We’re hoping GDP growth of 4% will increase the number of available jobs.
  • Growth in GDP slowed in the fourth quarter of the year.
  • The United States is the country with the highest total GDP; though not the highest per person.
  • She argues that GDP growth is the best simple measure of a country’s economic progress; though she concedes that it is not a perfect measure.

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  • The cash flow makes up a whopping 15 percent of El Salvador’s gross domestic product and is Mexico’s second largest contributor to the economy, after oil.
    Sonia Nazario  --  Enrique’s Journey
  • In 2005, the annual per capita gross domestic product of the country was a mere four hundred dollars—which ranks it ahead of only the Democratic Republic of Congo and Zimbabwe among nations for which any data is available.
    Warren St. John  --  Outcasts United
  • Since the onset of civil war, Burundi’s per capita gross domestic product had fallen from roughly $180 per year to about $80, the lowest in the world, and of course that paltry figure understated the general penury.
    Tracy Kidder  --  Strength in What Remains
  • Norberg-Hodge admiringly quotes the king of another Himalayan country, Bhutan, who says the true measure of a nation’s success is not gross national product, but "gross national happiness."
    Greg Mortenson & David Oliver Relin  --  Three Cups of Tea
  • A country will take a fee amounting to four times its gross national product to accept a shipment of toxic waste.
    Don DeLillo  --  Underworld
  • These countries took young women who previously had contributed negligibly to gross national product (GNP) and injected them into the formal economy, hugely increasing the labor force.
    Nicholas D. Kristof  --  Half the Sky
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Associated words [difficulty]:   gross domestic product (GDP) [6] , domesticated [4] , purchasing power parity (PPP) [9] , market concentration [9] , money supply [9] , purchasing power parity (PPP) [9]
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Most commonly used in these subjects:   Public Policy & Politics, Business, Classic Literature
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