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Pages 105-106

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From page 105...
... 105 A P P E N D I X I V A Simplified Explanation of Gross Domestic Product and Economic Output GDP is a fundamental measurement of economic activity in a nation, region, or state for a given period. It accounts for the value added to a good or service by a business process -- that is, the transformative value of labor to raw materials (and returns to capital)
From page 106...
... 106 Table IV-1: Hypothetical Example of Value Added and Total Output of a Manufactured Good Stage Cost of Inputs Value Added (GDP) Price of Output (Economic Output)

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