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What Is Gross Domestic Product (GDP)? | Marginal Revolution University

What Is Gross Domestic Product (GDP)? | Marginal Revolution University

Picture the economy as a giant supermarket, with billions of goods and services inside. At the checkout line, you watch as the cashier rings up the price for each finished good or service sold. What have you just observed?The cashier is computing a very important number: gross domestic product, or GDP.GDP is the market value of all finished ...

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