how do we get gdp of a coutry
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It is used to measure the health of an economy. In basic economic terms, GDP of a country is the value of all the goods and services produced within the boundaries of the country in an year. There are three methods to calculate the GDP of a country, one is income approach, adding up what everyone earned.
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Answer:
Explanation:
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
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