Gross domestic product (GDP)

What is Gross domestic product (GDP)?

Gross domestic product (GDP) meaning The total value of goods and services produced by labor and property located in the United States. As long as the labor and property are located in the United States, the supplier (that is, the workers and, for property, the owners) may be either U.S. residents or residents of foreign countries.

 

reference: Glossary – U.S. Energy Information Administration (EIA)

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