MACROECONOMICS(LL)W/SAPLING
5th Edition
ISBN: 9781319198404
Author: KRUGMAN
Publisher: MAC HIGHER
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Question
Chapter 7, Problem 2QFT
To determine
Concept Introduction:
It is defined as the money value of all finished goods and services that are produced by the normal resident and nonresident of the country inside the boundary of a country usually for one year.
Three different ways to calculate GDP are income method, expenditure method and value added method.
The way in which three statistics cited by Mr. Li Keqiang fits into three different ways to calculate GDP.
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