3 years ago

Gross domestic product is equal to which of the following?

1 answer:

7 0

Gross domestic product refers to the total market value of all goods and services produced in a country at a specific period of time.

Gross domestic product "is equal to the total value of production of domestic firms".

The product produced in all sectors of the economy is included in Gross domestic product. The sectors in the economy includes agricultural sector, mining sector, banking sector, education sector etc.

The market value of each of this sectors over a given period of time is compiled in the Gross domestic product.

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