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Gross Domestic Product
Beginning of paper
The is one of the important tools used to measure a nation’s productivity and output. It is a “scorecard” that can be used to measure one year’s output against another, or even to compare one nation‘s economic output (as long as the formula’s limitations are recognized) to another’s.
Components of
There are two approaches to : inc ....
Middle of paper
....e, TVs and furniture. Consumption is the largest component in the Gross Domestic Product expenditure model. (McEachern, 154)
Investment
Investment is defined as the annual spending on annual output not used for current consumption. Physical capital, i.e., buildings and new machine, are a large part of this component. (McEachern, 154)
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