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- 22 Feb
GDP (Gross Domestic Product) � Don�t Believe it!
- Feb 22, 2016
- IanRunge
- 0
- Business Cycles, GDP, Growth, Production
GDP is gross domestic product, not net domestic product. It measures production, not destruction. In 1958, Mao Zedong launched China�s �Great Leap Forward� and amongst other initiatives, provided lots of incentives to increase steel production. Steel output rose dramatically. BUT […]
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