Bill sells his car to a used car dealer for $4,000, which then sells it to another household for $5,000. together, these transactions add $1000 dollars to the gdp.
Gross Domestic Product is a monetary measure of the market value of all final goods and services produced by a country in a given period of time. Due to its complex and subjective nature, this indicator is often revised before being considered a reliable indicator.
GDP measures the monetary value of the final goods and services produced (that is, purchased by final consumers) in a country over a specified period of time (such as a quarter or a year). Counts all electricity generated within a country's borders.
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