GDP is defined as the market value of all final goods and services produced within a country in a given period of time. In spite of this definition, some production is left out of GDP. Explain why some final goods and services are not included.

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Chapter5: National Income Accounting
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67. GDP is defined as the market value of all final goods and services produced within a country in a given period
of time. In spite of this definition, some production is left out of GDP. Explain why some final goods and
services are not included.
Transcribed Image Text:67. GDP is defined as the market value of all final goods and services produced within a country in a given period of time. In spite of this definition, some production is left out of GDP. Explain why some final goods and services are not included.
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