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Banking Term: Gross Domestic Product

Find important banking term that is useful in upcoming banking exam.

Apr 10, 2015 16:41 IST
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It is a measure of the total outflow of goods and services produced by the economy over a specified time period, normally a year or a quarter.

It is obtained by valuing outputs of goods and services at market prices, and then aggregating. Note that all intermediate products are excluded, and only goods used for final consumption or investment goods or changes in stocks are included.

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