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Gross Domestic Product (GDP) Is the Sum of Value Added

question 58

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Gross domestic product (GDP) is the sum of value added by resident firms,households,and governments operating in an economy.


Definitions:

Six-figure Accuracy

A level of precision in measurements or calculations that results in an output with six significant figures.

Overline

A line drawn over a symbol or number, often used in mathematics to indicate a repeating decimal or a geometric figure's conjugate.

Denominator

The bottom number in a fraction that shows into how many parts the whole is divided.

Three Figure Accuracy

The accuracy of a number rounded to the nearest hundred; signifies a level of precision.

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