What Is The Meaning Of GDP? Find Out The Full Form Of GDP

Juliet D'cruz

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GDP Meaning & Definition

Find The Meaning Of GDP?

What Is The Meaning Of GDP?

The Meaning Of GDP In English,

The Meaning of GDP comes up by its full form Gross Domestic Product which is a quantitative measure of a nation’s aggregate economic activity. So, it is a short form of gross domestic product.

The meaning of GDP can also be termed as the monetary value of all goods and services that are produced in an economy in a year. Gross Domestic Product (GDP) is important as it is widely used measures of an economy for output or production. It is calculated monthly, quarterly or annually.

Formula or Equation for calculation of GDP (Gross Domestic Product):

GDP = C + I + G + (X – M) or it can be written as GDP = private consumption + gross investment + government investment + government spending + (exports-imports) as C refers to consumption, I refers to Investments, G refers to government investments and spending, X refers to exports, and M refers to imports.

Gross Domestic Product (GDP) meaning also provides information about the size of the economy and how the economy in total is performing. So, the meaning of GDP is the pointer of the general health of the economy of our country.

It is a continuous process as the performance of a country keeps on changing and improving leading to a higher GDP. So, GDP meaning can be good as well as bad. It is good when contributing to the growth and increased performance performing the function of unemployment and inflation rate to below, which will overall enhance the country’s performance.

Meaning of GDP gives us much information about the country’s economy but it does not reveal everything about the country’s economy.

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What Are The Synonyms Of GDP?

Synonyms Of GDP Are:

  • gross domestic product

What Are The Antonyms Of GDP?

Antonyms Of GDP Are:

Not Available Antonyms Of GDP

What Are The Related Words Of GDP?

Related Words Of GDP Are:

  • output
  • gross domestic product
  • turnout
  • out-turn
  • production
  • volume

What Is The Noun Form Of GDP?

Noun Form Of GDP Is:

Not Available Noun Form Of GDP

What Is The Verb Form Of GDP?

Verb Form Of GDP Is:

Not Available Verb Form Of GDP

What Is The Adjective Of GDP?

Adjective Of GDP Is:

Not Available Adjective Of GDP

Examples Of Using The Word GDP Are:

  1. The calculation of economic growth is based on the nominal GDP deflated by a price index.
  2. In the first half, the city’s GDP grew by 15 percent, with industrial output rising by 22.5 percent.
  3. The current rules allow a Europian Union country to run a deficit of as much as 3 percent of its GDP.
  4. You may wonder what burger sales have to do with a nation’s GDP.
  5. We just found out the other day that GDP rose 3.8 percent, a huge jump.
  6. This information is also used to estimate the GDP per region.
  7. Perhaps the most onerous of those burdens is a public debt that is 106 percent of the annual GDP.
  8. Soaring pension costs and a shortage of labor threaten to severely crimp Finland’s fast-paced GDP growth, economists say.
  9. Real GDP is growing at the fastest yearly pace in two decades.
  10. The compendium contains up-to-date information on the national economy, including GDP, gross national products, employment and population statistics.
  11. The ten applicants have a lower GDP than the Netherlands.
  12. That is a huge company that has an annual turnover similar to the GDP of New Zealand.
  13. Those advances helped push the United States GDP higher while inflation remained relatively tame.


What Is GDP And How Is It Calculated?

The GDP calculation accounts for spending on both exports and imports. Thus, a country’s GDP is the total of consumer spending (C) plus business investment (I) and government spending (G), plus net exports, which is total exports minus total imports (X – M).

What Is A Simple Definition Of GDP?

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.

How Is GDP Calculated?

GDP = private consumption + gross private investment + government investment + government spending + (exports – imports). GDP is usually calculated by the national statistical agency of the country following the international standard.

What Is GDP Used For?

GDP stands for gross domestic product, which represents the total monetary value, or market value, of finished goods and services produced within a country during a period, typically one year or quarter. In this sense, it’s a measurement of domestic production and can be used to measure a country’s economic health.

What Is Difference Between GDP And GNP?

Gross domestic product (GDP) is the value of the finished domestic goods and services produced within a nation’s borders. On the other hand, gross national product (GNP) is the value of all finished goods and services owned by a country’s citizens, whether or not those goods are produced in that country.

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