Gross Domestic Product (GDP)
The total monetary value of all finished goods and services produced within a country's borders during a specific period.
Detailed Definition
GDP represents the broad scorecard of a nation’s overall economic health and production output. Real GDP is adjusted for inflation, allowing economists to compare economic expansion or contraction across different years.
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Current Account Deficit (CAD)
When a nation imports more goods, services, and capital transfers than it exports to foreign trade partners.