Why does gross output do a better job than GDP of measuring overall ecnomic activity?

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Xersiee · Answer 1 · 2022-10-17T11:38:14+0000

Answer: Nominal gross domestic production i.e. NGDP is equal to the value of all the goods and services produced in the economy at current year prices in a time-period. Gross domestic product is sum of consumption, investment, government purchase and net exports.

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Why does gross output do a better job than GDP of measuring overall ecnomic activity?

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