Question

Formula of nominal GDP??????

Answer 1

What is Nominal GDP?

GDP stands for gross domestic product and is the measure of the total economic output of the goods and services of a country. Nominal GDP is economic output without the inflation adjustment. Nominal GDP is usually higher than real GDP because inflation is typically a positive number.

Formula of Nominal GDP?

• 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.

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Answer 2

Answer:-

Nominal GDP:-

It refers to GDP at current prices.It is the market value of final goods and services produced within a domestic territory of a country during an accounting year.

Nominal GDP= Quantity of final goods into prices prevailing during the accounting year....