Question

How do we estimate gross domestic products

Answer 1

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.)