Measuring GDP. GDP: a measure of value of all the final goods and services newly produced in a country during some period of time.. Measuring GDP (2). Prices of goods and services are used as weight.Convert quantities of goods and services produced to common monetary value so they can be added. Ex. Convert marginal utility to (monetary) value of goodPrices reflect the cost and value of the goods and services produced.GDP includes only final goods.Final goods: a new good that undergoes n273
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