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gross domestic product

The definition of the gross domestic product is the value of all the finished goods and services produced by a country during a specific period of time.

(noun)

An example of the gross domestic product is the total of all the consumer, business and government spending in the United States during twelve months plus the value of the exports during that twelve month period.

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See gross domestic product in Webster's New World College Dictionary

the total value of the annual output of goods and services produced within a nation's borders: it excludes the foreign output of domestic firms and includes the domestic output of foreign firms

See gross domestic product in American Heritage Dictionary 4

noun Abbr. GDP
The total market value of all the goods and services produced within the borders of a nation during a specified period.

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