Question

1. determine the gross domestic product at each year. Explain the method used.

Answer 1

Answer:

The U.S. GDP is primarily measured based on the expenditure approach. This approach can be calculated using the following formula: GDP = C + G + I + NX (where C=consumption; G=government spending; I=Investment; and NX=net exports). All these activities contribute to the GDP of a country.

Explanation:

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