Question

How GDP is calculated??
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Answer 1

Answer:

GDP can be calculated by adding up all of the money spent by consumers, businesses, and government in a given period. The number is an estimate of "nominal GDP."

The equation for calculating GDP is: GDP = private consumption + gross investment + government investment + government spending + (exports – imports)

Answer 2

Answer:

GDP can be calculated by adding up all of the money spent by consumers, businesses, and government in a given period. It may also be calculated by adding up all of the money received by all the participants in the economy. In either case, the number is an estimate of "nominal GDP."