Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter13: Measuring The Economy's Performance
Section13.1: National Income Accounting
Problem 2R
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Define
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Definition:
GDP stands for gross domestic product. It is the market value of all the final goods and services produced within a country's boundary during a period of a year. It is one of the most important indicators to gauge the health of an economy.
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