GDP
/ˈɡiˈdiˈpi/
gross domestic product; the total value of goods and services produced
GDP in a sentence
“GDP growth of 3% indicates a healthy economy.”
Origin of GDP
Acronym: Gross Domestic Product, coined mid-20th century
Related Words
inflation
a general increase in prices and fall in purchasing power
deflation
a general decrease in prices
recession
a significant decline in economic activity lasting months
fiscal policy
government spending and taxation decisions
monetary policy
central bank actions affecting money supply and interest rates
aggregate demand
total demand for goods and services in an economy