gdp does not include all the economic transaction in it . comment
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Explanation:
like intermediate good, Transfer payment, income form abroad WILL NOT INCLUDE TO THE GDP CALCULATION.
FIRSTLY if we take intermidiate goodS,there will exist a chance of double counting.
SECONDLY There does not exist any type of economic transaction in the case of transfer payment.
THIRDLY Income form the abroad not the domestic factors earning.so it will not include into the GDP.
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