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What is Determination of GDP in the cross model?
Determination of GDP in the cross model refers to the process of determining GDP or Gross Domestic Product by employing the cross model. GDP states the value of economic activity that occurs in a country. The values of all the final goods can be obtained by the cross model as it measures and states the relation between demand and supply. The values of aggregate supply and aggregate demand in an economy help in deducing numerous other values. The cost and final prices of goods are determined and affected to some extent by these two basic factors.
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