Gross domestic product - Wikipedia, the free encyclopedia

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** Gross domestic product **

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"GDP" redirects here. For other uses, see GDP (disambiguation).
A map of world economies by size of GDP (nominal) in $US, /CIA World
Factbook/, 2012.^[1]

*Gross domestic product* (*GDP*) is the market value of all officially
recognized final goods and services produced within a country in a given
period of time. GDP per capita is often considered an indicator of a
country's standard of living;^[2]^[3]

GDP per capita is not a measure of personal income (/See Standard of living
and GDP/). Under economic theory, GDP per capita exactly equals the gross
domestic income (GDI) per capita (/See Gross domestic income/).

GDP is related to national accounts, a subject in macroeconomics. GDP is
not to be confused with gross national product (GNP) which allocates
production based on ownership.

*Contents*

· 1 History
· 2 Determining GDP

· 2.1 Production approach
· 2.2 Income approach
· 2.3 Expenditure approach

· 2.3.1 Components of GDP by expenditure
· 2.3.2 Examples of GDP component variables

· 3 GDP vs GNP

· 3.1 International standards
· 3.2 National measurement
· 3.3 Interest rates

· 4 Nominal GDP and adjustments to GDP
· 5 Cross-border comparison and PPP
· 6 Per unit GDP
· 7 Standard of living and GDP
· 8 Externalities
· 9 Limitations and Criticisms
· 10 Lists of countries by their GDP
· 11 List of newer approaches to the measurement of (economic) progress
· 12 See also
· 13 Bibliography
· 14 Notes and references
· 15 External links

· 15.1 Global
· 15.2 Data
· 15.3 Articles and books

*History[edit]*

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Source: en.wikipedia.org/wiki/Gross_domestic_product


how is gdp calculated

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