What does GDP mean in economics?

It represents the value of all goods and services produced over a specific time period within a country's borders. Economists can use GDP to determine whether an economy is growing or experiencing a recession. Investors can use GDP to make investment decisions—a bad economy often means lower earnings and stock prices.

What is the difference between GDP and gross domestic product?

Gross domestic product measures a national economy's total output in a given period and is seasonally adjusted to eliminate quarterly variations based on climate or holidays. The most closely watched GDP measure is also adjusted for inflation to measure changes in output rather than changes in the prices of goods and services.

Is GDP an economy's all?

Articles and books Callen, Tim. "Gross Domestic Product: An Economy's All". International Monetary Fund. Stiglitz, JE; Sen, A; Fitoussi, J-P (2010). "Mismeasuring our Lives: Why GDP Doesn't Add Up". New Press.