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Gross Domestic product per Capita 22 Feb Gross domestic product (GDP) (see also gross domestic income) refers to the market value of all goods and services produced within a country in a given period. It is often considered an indicator of a country's standard of living.[1].[2] Gross domestic product is related to national accounts, a subject in macroeconomics. GDP can be determinedâ¦
(February 2011). Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation).This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output.February 2011). Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation).