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Gross Domestic Product
The total value of all goods and services produced within a country's borders in a specific time period, serving as a comprehensive measure of economic activity.
Net Domestic Product
A measure of a country's economic output that accounts for depreciation, representing the net value of all goods and services produced domestically.
Depreciation
The decrease in an asset's worth over time, usually caused by aging or becoming outdated.
Net Domestic Product
Measures the total value of all goods and services produced within a country's borders in a specific period, after accounting for depreciation.
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