What does GDP stand for in economics?

GDP stands for Gross Domestic Product, which is a key economic indicator used to measure the overall economic performance of a country. It represents the total monetary value of all goods and services produced within a nation's borders over a specific period, typically calculated annually or quarterly. By assessing GDP, economists and policymakers can gauge the health of an economy, making it crucial for understanding economic growth, comparing the economic performance of different countries, and informing fiscal and monetary policy.

The other options do not accurately describe what GDP measures or stands for. General Development Plan refers to strategies for regional or urban development, Global Distribution Program pertains to the logistics of distributing products worldwide, and Government Debt Percentage relates to the proportion of a country's debt to its GDP or other economic measures but does not define GDP itself. Thus, Gross Domestic Product is the correct and widely recognized definition in economic contexts.