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This system it called gross domestic product (GDP). These figures are closely watched by those in the business and financial communities to measure our economy's growth.
GDP is a measure of the economy's output. It is measured by counting all final goods and services once and only once that are produced during a current period, within the country. GDP can be measured by totaling the expenditures on goods and services produced during a specific time frame. This is referred to as the expenditure approach. Conversely, GDP can be reached by adding the income payments to resources suppliers and the other costs of producing those goods and services...
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