ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gross Deceptive Proximation
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General Domestic Product
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Gross Domestic Product
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General Demand for Products
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Detailed explanation-1: -Gross domestic product (GDP) is the most commonly used measure for the size of an economy. GDP can be compiled for a country, a region (such as Tuscany in Italy or Burgundy in France), or for several countries combined, as in the case of the European Union (EU).
Detailed explanation-2: -Meaning of GDP in English abbreviation for Gross Domestic Product: the total value of goods and services produced by a country in a year: If the GDP continues to shrink, the country will be in a recession. Compare. GNP specialized. Economics.
Detailed explanation-3: -Gross Domestic Product (GDP) of a country is the sum of all the final goods and services produced in all the three sectors in a particular year. It shows the total production in a country. It shows how big the economy of a country is, in a given year, in terms of its total output.
Detailed explanation-4: -The correct answer is Gross Domestic Product. Key Points. GDP stands for Gross Domestic Product. GDP is all the final goods and services produced in one financial year in our national boundary. The Central Statistics Office (CSO) calculates India’s GDP.