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What Is Gross Domestic Product GDP? How Is It Measured?
What Is Gross Domestic Product GDP? How Is It Measured?
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Solution
The Gross Domestic Product (GDP) is the total market value of all finished goods and services made within a country for a specific period of time. GDP is used to estimate the size of the economy and the growth rate. The GDP can be calculated in three different ways, such as Expenditures, Production and Incomes.
The Gross Domestic Product (GDP) is the total market value of all finished goods and services made within a country for a specific period of time. GDP is used to estimate the size of the economy and the growth rate. The GDP can be calculated in three different ways, such as Expenditures, Production and Incomes.
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