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<h2>Gross Domestic Product</h2>
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<p>Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time. GDP per capita is often considered an indicator of a country's standard of living; GDP per capita is not a measure of personal income (See Standard of living and GDP). Under economic theory, GDP per capita exactly equals the gross domestic income (GDI) per capita (See Gross domestic income).</p>
<p>GDP is related to national accounts, a subject in macroeconomics. GDP is not to be confused with gross national product (GNP) which allocates production based on ownership.</p>
<p>GDP was first developed by Simon Kuznets for a US Congress report in 1934. In this report, Kuznets warned against its use as a measure of welfare. After the Bretton Woods conference in 1944, GDP became the main tool for measuring a country's economy.</p>
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<h2>List of U.S. states by GDP</h2>
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<p>This is a list of U.S. states sorted by their gross state product (GSP). GSP is the state counterpart to a country's gross domestic product (GDP), the most comprehensive measure of national economic activity. The United States Bureau of Economic Analysis (BEA) derives GSP for a state as the sum of the GSP originating in all the industries in the state.</p>
<p>The BEA defines an industry's GSP, or its value added, as equal to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported). The BEA's GSP data by industry and state is consistent with gross domestic product (GDP) in the national income and product accounts, and with the GDP by industry accounts.</p>
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<h2>China</h2>
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<p>Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time. GDP per capita is often considered an indicator of a country's standard of living; GDP per capita is not a measure of personal income (See Standard of living and GDP). Under economic theory, GDP per capita exactly equals the gross domestic income (GDI) per capita (See Gross domestic income).</p>
<p>GDP is related to national accounts, a subject in macroeconomics. GDP is not to be confused with gross national product (GNP) which allocates production based on ownership.</p>
<p>GDP was first developed by Simon Kuznets for a US Congress report in 1934. In this report, Kuznets warned against its use as a measure of welfare. After the Bretton Woods conference in 1944, GDP became the main tool for measuring a country's economy.</p>
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