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In calculating GDP using the output approach, can a financial institution's headquarters location misrepresent the service sector's contribution to GDP in other regions? For example, imagine a nationwide bank with branches in every state but headquartered in the capital city. Could the bank's practice of consolidating service output for reporting in the headquarters city lead to an underestimation of the service sector's GDP in other states? This scenario raises concerns about the accuracy of GDP in reflecting economic activity across different geographical areas. I'm interested in hearing thoughts on this. Thank you.

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