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What Is Value Added and How Is It Related to Gross

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What is value added and how is it related to Gross Domestic Product (GDP)?


Definitions:

External Validity

The extent to which the results of a study can be generalized or applied to contexts outside the original study setting.

Causal Relationship

A connection between two entities where one is understood to be the cause of the other.

Logical Fallacy

A flaw in reasoning that leads to incorrect arguments, often invisible in the argument's structure but critically undermining its validity.

Causally Related

Refers to entities or events connected by a cause-and-effect relationship, where one directly influences or brings about the other.

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