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What does GDP stand for in economic terms? (2023)
Practice Questions
Q1
What does GDP stand for in economic terms? (2023)
Gross Domestic Product
General Domestic Product
Gross Development Product
General Development Product
Questions & Step-by-Step Solutions
What does GDP stand for in economic terms? (2023)
Steps
Concepts
Step 1: Understand that GDP is an abbreviation.
Step 2: Know that GDP stands for 'Gross Domestic Product'.
Step 3: Recognize that GDP measures the total value of all goods and services produced in a country.
Step 4: Realize that GDP is used to assess the economic performance of a country.
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