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What does GDP stand for in economics? (2021)
What does GDP stand for in economics? (2021)
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Practice Questions
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Q1
What does GDP stand for in economics? (2021)
Gross Domestic Product
General Domestic Product
Gross Development Product
General Development Product
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GDP stands for Gross Domestic Product, which measures the economic performance of a country.
Questions & Step-by-step Solutions
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Q
Q: What does GDP stand for in economics? (2021)
Solution:
GDP stands for Gross Domestic Product, which measures the economic performance of a country.
Steps: 4
Show Steps
Step 1: Understand that GDP is an abbreviation.
Step 2: Know that GDP stands for 'Gross Domestic Product'.
Step 3: Learn that Gross Domestic Product measures the total value of all goods and services produced in a country.
Step 4: Recognize that GDP is used to assess the economic performance of a country.
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