Led by the auto industry, the United States economy grew rapidly in the 1920s, generating more jobs, more income, and more free time that the American consumer had in order to spend. As long as people were employed, paying for goods and services, there...

The total output of goods and services produced within a given country in a particular time period. It is equal to the sum of the VALUE ADDED by each industry, net of all inputs, including imported INTERMEDIATE GOODS: this is equal to the FACTOR...

GROSS DOMESTIC PRODUCT at current prices. This is regarded as a suitable reference target for regulating public expenditure. In the UK and the USA, GDP figures are published...

The totality of a country’s economic output as generated by the resident population per given year. See also: GROSS NATIONAL...

A region's gross domestic product, or GDP, is one of the ways of measuring the size of its economy. The GDP of a country is defined as the total market value of all final goods and services produced within a country in a given period of time (usually a...

To look at the overall U.S. economic activity, the Gross Domestic Product must be examined. This is a measurement of the market value of all final goods, services, and structures produced in one year by labor and property located in the United States. GDP is divided into four distinctly separate categories: