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The total monetary value of all finished goods and services produced within a country's borders in a specific time period.
GDP is the broadest measure of economic activity and serves as the scorecard for an entire economy. It is calculated by summing consumer spending, business investment, government spending, and net exports. U.S. GDP is approximately $28 trillion. Real GDP adjusts for inflation, providing a more accurate picture of growth. Two consecutive quarters of declining real GDP is the common (though unofficial) definition of a recession. GDP growth of 2-3% is considered healthy for developed economies, while emerging markets may grow at 5-7% or more.