Question

define gdp and its calculation

Answer 1

hey❕ here's the answer..

Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents themonetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

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Answer 2

hey mate you ✨

A country's gross domestic product can be calculated using the following formula: GDP = C + G + I + NX. C is equal to all private consumption, or consumer spending, in a nation's economy, G is the sum of government spending, I is the sum of all the country's investment, including businesses capital expenditures and NX ...