Question

give a simple method to calculate gross domestic product

Answer 1

the simple method to calculate the GDP is given in the equation GDP = C +I +G+ ( X - M ) or GDP = private consumption + gross investment + government spending + ( export - import) . this task can be undertaken by Central statistics office (CSO) UNDER Ministry of statistics and programme implementation ..

hope it helps you ..............................

Answer 2

Answer:

Key Points

The expenditures approach says GDP = consumption + investment + government expenditure + exports – imports.

The income approach sums the factor incomes to the factors of production.

The output approach is also called the “net product” or “value added” approach.