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Q.

GDP stands for:


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a

GrossDevelopment process

b

Good domestic product

c

Gross Domestic Product

d

Gross demand production  

answer is C.

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Detailed Solution

GDP stands for Gross Domestic Product.
GDP is the total value of all final goods and services produced in an economy in a given year. GDP tells us how powerful an economy is in monetary terms. While calculating GDP, only the value of final goods and services and not the value of intermediate goods, as will result in double counting.
 
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