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What does GDP stand for, and what does it mean?

GDP stands for gross domestic product, which is the market value of finished goods and services manufactured in a country within a set time frame, typically one year. This includes consumer spending, government spending, industry investments and a country’s exports minus its imports.

What is GDP and why is it so important?

GDP is important because it is a leading indicator of a country's economic health. It gives economists an idea of the nation's financial viability.

What does GDP tell you?

What GDP does not tell you about the economy Gross Domestic Product (GDP) measures the value of goods and services produced within an economy’s borders during a given period. GDP is measured by national governments and by some international organizations, which rely primarily on government data.


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