One way to measure economic growth is by using GDP, which stands for Gross Domestic Product.

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24-07-2024
Business

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One way to measure economic growth is by using GDP, which stands for Gross Domestic Product.

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-07-24T09:41:10-04:00

Final answer:

Economic growth is often assessed through Gross Domestic Product (GDP) to measure the value of goods and services produced in a country.

Explanation:

Economic growth is commonly measured by Gross Domestic Product (GDP), which calculates the total value of goods and services produced within a country in a year. It can be measured by the sum of what is purchased in the economy or what is produced. Economists use GDP growth to assess a nation's economic performance and prosperity.

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