2 Dollars act as a common denominator for GNP. Production of each final product is weighted according

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2 Dollars act as a common denominator for GNP. Production of each final product is weighted according to its selling price. Alternatively, GNP can be calculated by add- ing up the dollar factor cost of producing the final goods. The two methods sum to an identical result.

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Essentials Of Economics

ISBN: 396414

2nd Edition

Authors: James D Gwartney; Richard Stroup; J R Clark

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