Glossary of Airline Terminology

Gross Domestic Product

The market value of goods and services produced by labor and property in the United States, valued at market prices. As long as the labor and property are located in the United States, the suppliers (workers and owners) may be either U.S. residents or residents of foreign countries. GDP replaced gross national product (GNP) as the primary measure of U.S. production in 1991.

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