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erma4kov [3.2K]
3 years ago
11

How is each nation's economic system determined?

Social Studies
1 answer:
statuscvo [17]3 years ago
7 0

Answer:

Economists can measure the performance of an economy by looking at gross domestic product (GDP), a widely used measure of total output. GDP is defined as the market value of all goods and services produced by the economy in a given year. In the United States, it is calculated by the Department of Commerce.

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