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Chained dollar GSP is based on the average weights of goods and services in successive pairs of years. It is "chained" because the second year in each pair, with its weights, becomes the first year of the next pair. The advantage of using the chained-dollar measure is that it is more closely related to any given period covered and is therefore subject to less distortion over time. Constant dollar GSP is tied to a specific year (or possibly current dollars). But, if you are looking at a trend, both chained dollars and constant dollars should provide a similar general trend.

As far as funds go, the general fund expenditures show how much the state spent on services and programs and does not take into account bond expenditures.