Write the Ratio as a Fraction in Lowest Terms

question 42

Short Answer

Write the ratio as a fraction in lowest terms. to

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Definitions:

GDP

Gross Domestic Product, which is the total value of all goods and services produced over a specific time period within a country.

GDP

Gross Domestic Product, which measures the total economic output of a country, accounting for all goods and services produced within a given period.

Real GDP

An inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year.

Nominal GDP

The gross domestic product measured at current market prices, without adjustment for inflation.