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What 4 criteria must be met for something to be counted in GDP?

User Forgot
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Final answer:

To be counted in GDP, something must meet the criteria of market value, final goods and services, borders, and given year.

Step-by-step explanation:

For something to be counted in GDP, it must meet the following four criteria:

  1. Market value: The item must have a dollar value or a market value.
  2. Final goods and services: Only the final products and services that are purchased by consumers should be included.
  3. Borders: The production of the item must occur within the country's borders.
  4. Given year: The item must have been produced within the designated year.

GDP is a measure of the total monetary value of goods and services produced in a country in a given year. It is important for analyzing the macro economy and macroeconomic policy tools.

User Sherdim
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