Define the term GDP
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GDP
GROSS DOMESTIC PRODUCT MEASURES THE VALUE OF ECONOMIC ACTIVITY WITHIN THE COUNTRY.
THE SUM OF THE MARKET PRICES, OF ALL FINAL GOODS AND SERVICE PRODUCED AN ECONOMIC DURING
THE PERIOD OF TIME.
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Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.
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