Question

How is GDP calculated?​

Answer 1

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."

Explanation:

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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."

Explanation:

• Indirect business taxes such as sales taxes and property taxes;

• Depreciation, a measure of the decreasing value of business equipment over time;

• Net foreign factor income, which is foreign payments made to a country's citizens minus the payments those citizens made to foreigners

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