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Production approach to measure gdp

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Reference no: EM131608249

"GDP is equal to $1 trillion in 2010 according to the expenditure approach. If there are two stages of production (primary and then final) and primary output is equal to $400 billion, then, using the production approach to measure GDP, GDP will be equal to $600 billion." Confine your answer to one paragraph.

Reference no: EM131608249

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