GDP

Stands for gross domestic product and is a way for economists to measure the strength of a particular economy. For example, US GDP looks at the total market value of all goods and services produced within the US, from cars to appliances to clothes to shoes. When US factories produce a lot, it usually means the economy is healthy because they have buyers for their products, and GDP will increase. When factories slow down production, it means there are fewer buyers, and GDP will decrease.

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2017-12-13T14:16:13+00:00

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