It’s used to gauge a nation’s economic growth and its people’s standard of living. GDP also guides investment decisions and economic policy that affects everyone. Define gross domestic product. Gross Domestic Product. The gross domestic product is the value of goods and services produced in a national economy usually over a year, but can be any period of time.. the monetary value of all the finished goods and services produced that is used to gauge the health of a country’s economy. State counterpart of national GDP, including industries' contributions to each state economy
French Translation of “gross domestic product” | The official Collins English-French Dictionary online. Gross Domestic Product. Gross Domestic Product (GDP) Definition. If gross domestic product is rising, our economy is in good shape because our goods and services are becoming worth more money. It’s used to gauge a nation’s economic growth and its people’s standard of living. ‘Real gross domestic product is growing at the fastest yearly pace in two decades.’ ‘You may wonder what burger sales have to do with a nation's gross domestic product.’ ‘Perhaps the most onerous of those burdens is a public debt that is 106 per cent of the annual gross domestic product.’ Listen to audio with how to say gross domestic product in English.