Business Glossary - G

G

Gross Domestic Product (Gdp) - The most comprehensive single measure of aggregate economic output. Represents the market value of the total output of the goods and services produced by a nation’s economy.

Gross National Product (Gnp) - A measure of a nation’s aggregate economic output. Since 1991 GDP, a slightly different calculation, has replaced GNP as a measure of U.S. economic output.

Gross Receipts - income received from one#s business. Examples of documents that show gross receipts include cash register tapes, bank deposit slips, invoices, receipt books, charge slips, and Form 1099-MISC.

Guaranteed Loan - A loan made and serviced by a lending institution under agreement that a governmental agency will purchase the guaranteed portion if the borrower defaults.