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The term GDP stands for ---
Gross Production
Gross Developed Product
Gross Domestic Product
Gross Developed Production
ANSWER : 3
Descrption
<p>Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period.</p> <p>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 living standards between nations, while nominal GDP is more useful comparing national economies on the international market.</p>
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