Banking Glossaries-G

Gross Domestic Product

The total value of all the goods and services produced by the Canadian economy in a single year.

Gross National Product

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).

Gross profit margin

The difference between the sales your business generates and the costs you pay out for goods.

Guaranteed Investment Certificate

An investment in which you deposit money, over a fixed period of time, and are paid a set rate of interest.