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What is Nominal Gross Domestic Product? - Economics

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ConceptAggregates Related to National Income - Domestic Income (NDP)

Question

What is nominal gross domestic product?

Solution

Nominal Gross Domestic Product refers to the market value of all the final goods and services produced within the domestic territory during an accounting year as estimated with reference to current year prices. 

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Solution What is Nominal Gross Domestic Product? Concept: Aggregates Related to National Income - Domestic Income (NDP).
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