- The rate of change in output from the current year to the next year.
GDP growth, gross domestic product growth, economic expansion, financial growth
Related Terms and Acronyms
- Exports — Definition,
- Products and services produced in Canada and sold in other countries.
- Fiscal Deficit — Definition,
- When the government spends more money than it receives in revenue over the course of one year.
- Fiscal Policy — Definition,
- The use of government spending and taxation policies to influence the economy.
- Fiscal Surplus — Definition,
- When the government receives more in revenue than it spends over the course of the year.
- Gross Domestic Product (GDP) — Acronym,
- The total value of all the goods and services produced by the Canadian economy in a single year.
- Gross National Product (GNP) — Acronym,
- The value of all goods and services accruing to Canadians in a given year. It equals Gross Domestic Product, plus income of Canadians from foreign production, less income from Canadian production earned by non-residents (such as interest and dividends paid to foreign lenders).
- Inflation — Definition,
- A rise in the average level of prices in the economy.
- Loss — Definition,
- When expenses are larger than revenues.
- North American Free Trade Agreement (NAFTA) — Acronym,
- An agreement between the United States, Canada, and Mexico that allows for freer trade between the three countries.
- Profit — Definition,
- When revenues exceed expenses.