Gross domestic product
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually 
GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.
Tendency of the rate of profit to fall
A gross product account for a nation (in which GDP is an entry) is an account of factor incomes and factor expenditures generated by production. It is "not" (as Thomas Piketty highlighted) an account of the total capital assets of a nation, that shows what happens with those assets, "nor" an account of the distribution of all the nation's incomes. When journalists equate GDP with "the whole economy", this is not only false; it also hides half of what is going on.