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Paper Details

Gross Domestic Product & it’s Various Approaches

Satish Chandra Agarwal

Journal Title:International Journal For Empirical Education and Research
Abstract


Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

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