Link to this slang definition. To link to this term in a web page or blog, insert the following. To link to this term in a wiki such as Wikipedia, insert the following. Some wikis use a different format for links, so be sure to check the documentation.ubmitted by [{-tw1zt1d-}] on Dec 29 2001. 1  n: a person who says something really stupid or says something at the wrong time or place. 2  See more words with the same meaning: unintelligent person, idiot.
Gross domestic product: Gross domestic product (GDP) is the total market value of the goods and services produced by a countryâs economy during a specified period of time. encyclopÃdia britannica
Lesson Summary. A recession is a decline of economic activity, more specifically, a decline in gross domestic product (GDP) for two or more consecutive quarters. GDP is the market value of all goods and services produced within a country in a given period of time.