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Sagot :
GDP is significant because it provides data on the size and performance of an economy. The rate of growth in real GDP is frequently utilized as a marker of the economy as a whole.
What does GDP stand for?
GDP, which stands for the gross domestic product, is one of the most common. It is frequently cited in newspaper articles, on television, and in government, central bank, and business reports. It is now widely utilized as a barometer of the wellbeing of national and international economies.
What is a simple example of GDP?
For example, if Country B produced 5 bananas worth $1 each and 5 backrubs worth $6 each in one year, the GDP would've been $35.
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