GROSS DOMESTIC PRODUCT: The total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. This is the government's official measure of how much output our economy produces. It's tabulated and reported by the National Income and Product Accounts maintained by the Bureau of Economic Analysis, which is part of the U. S. Department of Commerce.

     See also | net domestic product | real gross domestic product | GDP price deflator | Bureau of Economic Analysis | National Income and Product Accounts | national income | personal income | disposable income | real GDP | nominal GDP | gross national product |

GROSS DOMESTIC PRODUCT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 17, 2022].

Additional information on this term can be found at:

WEB*pedia: gross domestic product

Back to the GLOSS*arama

A curve that graphically represents the relation between total factor cost incurred by a perfectly competitive firm when using a given factor of production to produce a good or service. The total factor cost curve is most important in factor market analysis for the derivation of the marginal factor cost curve.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
Your Complete Scope

This isn't me! What am I?

-- Albert Einstein

User Feedback