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Gross domestic product (GDP) is the sum of the income and expenditures of an economy Birini secin Cliodru OYanls

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Gross domestic product (GDP) is the sum of the income and expenditures of an economy.
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GDP is the market value of resources (land, labor, capita, and entrepreneurship) in an economy in a given year all final goods and services produced in an economy in a given year consumption and investment spending in an economy in a given year all output produced and accumulated over the years
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