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Discover LudwigGDP is a correct and usable word in written English
It is an acronym, which stands for Gross Domestic Product, and it is used to refer to the total value of goods and services produced by a country in a given time period. For example: "The International Monetary Fund recently reported a significant increase in the US GDP for the fourth quarter of 2020."
Dictionary
GDP
noun
Gross domestic product.
synonyms
Exact(60)
He added: "It is not just about 2% of GDP.
They have pumped new revenues equivalent to 0.6% of the GDP in Kenya alone.
Despite reports of an 8% increase in GDP last year, living standards and employment do not appear to be rising, with an estimated 5-6 million Uzbeks going abroad to find work each year.
A surprise drop in US GDP helped push the FTSE 100 down 16.08 points to 6323.11 after earlier signs that a new five year peak was on the cards.
The rise in GDP was supported by tailwinds from falling fuel prices, which put extra cash into consumers' pockets, and the export-boosting drop in the value of the euro.
This has fallen slightly since then, but their report suggests that with NHS England projections of flat cash for the NHS, and reasonable assumptions around forecast GDP growth, we could see our spend on healthcare falling back to around 6% of GDP by 2021, equivalent of 2003's spending levels.
It was only a strange error that led to the historical obsession with GDP As someone who has worked on these issues for three decades, I have observed that, sadly, most people who criticise the idea of measuring happiness are handicapped by the fact they know little about the research literature on the topic.
But the OBR adds that the "GDP per capita" rate – how much it costs or benefits the individual – is also positive due to the higher employment rate.
Analysis What is missing is a commitment to maintaining defence spending at 2% of GDP, the government pledge made at last year's Nato summit.
The truck that spilled its oil would make GDP go up because of all the spending to clean up the mess.
Vermont offers an excellent example of how GPI and GDP differ in practice.
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Justyna Jupowicz-Kozak
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