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TeachMeFinance.com - explain Gross Domestic Product Gross Domestic Product The term 'Gross Domestic Product ' as it applies to the area of Medicare in the United States can be defined as ' The total dollar value of all goods and services produced in a year in the United States, regardless of who supplies the labor or property'. Previous 5 Terms: gromatic gromatics Gross additions to construction work in progress for the month Gross company-operated production Gross crop value Next 5 Terms: Gross domestic product (GDP) Gross domestic product (GDP) Gross domestic product (GDP) implicit price deflator Gross energy intensity Gross farm income About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.