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28 October, 03:24

The GDP gap measures the amount by which

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  1. 28 October, 04:41
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    Potential GDP exceeds the actual GDP

    Explanation:

    GDP refers to as Gross Domestic Product. It is the monetary value of all finished goods and services made within a country during a specific period of time. The GDP acts as a measure of a country's growth rate and economy size.

    GDP gap refers to the output gap and it is described as when the Potential GDP exceeds the actual GDP.
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