Gross domestic product (GDP)
This is the total monetary value of all goods and services that are produced by a country excluding the goods and services produced abroad usually in a period of one year. It consists of public and private consumption, investments, government expenditures and the net exports.
This the total monetary value of goods and services produced within a country’s borders in a certain period of time and whose value has been adjusted to accommodate the inflation rate in that period. It can also be referred to as inflation corrected GDP. Real GDP puts into account Continue reading...