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What is 'Gross Domestic Product - GDP'. Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well.
GDP measured in current prices 14. goods that last a short period of time 15. GDP expressed in constant, or unchanging, prices 16. goods that last for a relatively long time 17. loss of the value of capital equipment that results from normal wear and tear 18. the total amount of goods and services in the economy available at all possible price levels