GDP is the monetary value of all goods and services produced in a given nation within a specified period. GDP is calculated after every year and it includes all investments, public and private consumptions, government outlays and exports fewer imports. GDP is a measure of nation’s economic health. Nevertheless, Gross Domestic Product is a measure of the nation’s standards of living. Countries are compared on with respect to their Gross Domestic Product since it shows the monetary value of the country’s economy. Ideally, the greater the GDP, the bigger the economy of the country. It is measured using two different ...
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