How do we estimate gross domestic products
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How do we estimate gross domestic products
Explanation:
The gross domestic product (GDP) of a country is an approximation of the total value of all the goods and services produced by the country within a certain period of time like an year.
The formula for GDP can be found as follows
GDP = C + G + I + NX
C = consumption
G = total government expenditure
I = total investments
NX = net exports( total exports minus total imports.)
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