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gross domestic product (GDP)
by 趙永祥 2015-07-09 08:11:44, Reply(0), Views(583)



 
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Term of the Day

Date: Wednesday, July 8, 2015

gross domestic product (GDP)

The value of a country's overall output of goods and services (typically during one fiscal year) at market prices, excluding net income from abroad.

Gross domestic product (GDP) can be estimated in three ways which, intheory, should yield identical figures. They are
(1) expenditure basis: how much money was spent,
(2) Output basis: how many goods and services were sold, and
(3) income basis:

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Usage Example
The increase in the developing nation's gross domestic product last year encouraged foreign investors to continue assisting in the buildup of infrastructure.