Gross Domestic Product, or GDP, is defined as "the monetary value of all the finished goods and services produced within a country's borders in a specific time period" (Gross Domestic Product – GDP). ... The indicator given from Gross Domestic Product is so closely watched that it can influence monetary and fiscal policies of the United States Government. Fiscal policies are derived by the legislative and executive branches and are only in regards to government spending whereas monetary policies are set by the Chairman of the Federal Reserve (Fiscal Policy). Historically ...

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• Grade Level: Undergraduate