Gross Domestic Product

The total value of goods and services produced by labor and property located in the United States. As long as the labor and property are located in the United States, the supplier (that is, the workers and, for property, the owners) may be either U.S. residents or residents of foreign countries. (DOE3)

A measure of the market value of all goods and services produced within the
boundaries of a nation, regardless of asset ownership. Unlike gross
national product, GDP excludes receipts from that nation's business
operations in foreign countries, as well as the share of reinvested
earnings in foreign affiliates of domestic corporations.