GDP is

Question

GDP is

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GDP is the sum of all final goods and services produced in a country during a specific period of time, typically a year. It does not include intermediate goods as they are already accounted for in the value of the final goods. It is a measure of the value of all newly produced goods and services, which means it does not include second-hand sales or pure financial transactions. It is not corrected for inflation, as that is measured separately by the GDP deflator or inflation rate. It is also not limited to goods and services sold domestically, as exports and imports are also included in GDP. Finally, it is not restricted to goods and services produced by citizens of the country - GDP measures production within the country's geographic borders, regardless of who produces it.

GDP Is