what is “GDP” and why is it such an important economic indicator?
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GDP is the value of all the goods and services produced in a country in a year. It is an important economic indicator because it shows how much a country is producing and how well the economy is doing. Think of it like a report card for the economy. Like when you get a good grade on a test, it means you did well and knew a lot. When a country has a high GDP, it means the economy is doing well and producing a lot.
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