Gross Domestic Product (GDP)

The total monetary value of all goods and services produced within a country's borders over a specific time period. It is a broad measure of economic activity.

Related terms

Inflation

The rate at which the general level of prices for goods and services rises, eroding purchasing power over time.

Recession

A significant, widespread, and prolonged decline in economic activity. A common rule of thumb is two consecutive quarters of negative GDP growth.