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Standard 5 National Economic Performance
Exam (elaborations) • 3 pages • 2024
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Standard 5 National Economic Performance Gross Domestic Product (GDP) ️️the market value of all final goods and services produced within a nation in a given time period Nominal GDP ️️the gross domestic product stated in terms of current value of goods and services Real GDP ️️the gross domestic product corrected for changes in prices from year to year Nonmarket Activities ️️services that have potential economic value but are performed without charge Underground Econo...

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