Question

How do we estimate GDP?​

Answer 1

Answer:

The following equation is used to calculate the GDP: GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports).

Nominal value changes due to shifts in quantity and price.

Answer 2

hi mate here is ur answer

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It is calculated by dividing Nominal GDP by Real GDP and then multiplying by 100. (Based on the formula). Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation. Real GDP is nominal GDP, adjusted for inflation to reflect changes in real output.

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