Difference between revisions of "Gross domestic product"
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| − | '''Gross domestic product''' (or GDP) refers to the total dollar value of a nation's output, income, or expenditure produced within its physical boundaries.<ref>{{cite web|url=http://usinfo.state.gov/products/pubs/oecon/chap12.htm|format=HTML|language=English|title=Glossary of Economic Terms|work=International Information Programs (USINFO - The United States Department of State)|quote=The total value of a nation's output, income, or expenditure produced within its physical boundaries.|accessdate=2007-08-21}}</ref> | + | '''Gross domestic product''' (or GDP) refers to the total dollar value of a nation's output, income, or expenditure produced within its physical boundaries regardless of by whom.<ref>{{cite web|url=http://usinfo.state.gov/products/pubs/oecon/chap12.htm|format=HTML|language=English|title=Glossary of Economic Terms|work=International Information Programs (USINFO - The United States Department of State)|quote=The total value of a nation's output, income, or expenditure produced within its physical boundaries.|accessdate=2007-08-21}}</ref> It is "gross" in the sense that it does not deduct [[depreciation]] of previously produced capital, in contrast to [[Net Domestic Product]]. |
==Notes== | ==Notes== | ||
Revision as of 23:40, September 10, 2007
Gross domestic product (or GDP) refers to the total dollar value of a nation's output, income, or expenditure produced within its physical boundaries regardless of by whom.[1] It is "gross" in the sense that it does not deduct depreciation of previously produced capital, in contrast to Net Domestic Product.
Notes
- ↑ Glossary of Economic Terms (English) (HTML). International Information Programs (USINFO - The United States Department of State). Retrieved on 2007-08-21. “The total value of a nation's output, income, or expenditure produced within its physical boundaries.”
