Gross Domestic Product
/ˌɡroʊs dəˈmɛstɪk ˈprɒdʌkt/
Definitions
- (n.) The total monetary value of all final goods and services produced within a country's borders in a specific time period, used as a primary indicator of economic activity in legal-economic contexts.
The statute bases tax liability thresholds on changes to the gross domestic product.
Forms
- gross domestic product
Related terms
See also
Commentary
GDP is primarily an economic measure but frequently appears in legal contexts related to taxation, international trade agreements, and regulatory economic impact analyses.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.