GROSS DOMESTIC PRODUCT: The total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. This is the government's official measure of how much output our economy produces. It's tabulated and reported by the National Income and Product Accounts maintained by the Bureau of Economic Analysis, which is part of the U. S. Department of Commerce. See also | net domestic product | real gross domestic product | GDP price deflator | Bureau of Economic Analysis | National Income and Product Accounts | national income | personal income | disposable income | real GDP | nominal GDP | gross national product |
