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Gross Domestic Product Group of answer choices measures only the value of final goods includes estimates...

Gross Domestic Product

Group of answer choices

measures only the value of final goods

includes estimates of goods produced at home

measures the value of all goods produced in a country

measures the happiness of a country

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Answer #1

Gross Domestic Product "measures only the value of final goods"

GDP refers to the money value of all final goods and services that are produced within the country during specified period of time. GDP is calculated on annual basis as well as on quarterly basis. Higher GDP reflects increase in national output, higher economic growth, more employment and better standard of living. GDP act as a tool for Investors, Businesses, government for investment and strategic decision making. we do not include the value of intermediate goods in GDP calculation.

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