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Which of the following statements omits one of the components of the description of gross domestic product (GDP)? 1. GDP is the aggregate income earned
Which of the following statements omits one of the components of the description of gross domestic product (GDP)?
1. GDP is the aggregate income earned by all households and all companies within the economy in a given period of time.
2. GDP is the market value of all final goods and services produced within the economy in a given period of time.
3. GDP is the total amount spent on all final goods and services produced within the economy over a given period of time.
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