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In the year 2017, the UAE GDP (gross domestic product) was estimated to be approximately 1422...

In the year 2017, the UAE GDP (gross domestic product) was estimated to be approximately 1422 billion Dirhams. How did the UAE Economists at the Ministry of Economy estimate this GDP figure?
a) By just guessing the amount of GDP
b) By taking the estimate from the world bank and the other international statistics
c) By using the quantity of production in that year and the market price of the goods and services
d) It is difficult to know how they have estimated.
e) All of the above except d
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Answer #1

The answer is c, as GDP is the total expenditure of goods and services produced within the country over a particular time period (generally an year).

The UAE GDP in 2017 was calculated through the total output produced in the country of market price of goods and services which has given a result of 1422 billion Dirhams or 387.2 billion USD.

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