Gross Domestic Product (GPD)
Created By: Jonathan Chase
What is GPD?
GPD stands for Gross Domestic Product. What GPD basically does is calculates the total amount of money gained by everything sold in one's country.
United States GPD
What is the current GPD for the United States? Currently the United States has made 16.8 trillion dollars and this is the year of 2014. The growth percentage is 3.9% of last year according to. http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm.
So if the bigger the number the better the economy? Right?
Wrong! What happens to this number is the amount of money made that year gets divided by the amount of people living in the United States at the time then that number could be compared to another country to see how similar their economies really are.
This basically sums up GPD! Hope you enjoyed!