How is Gross Domestic Product calculated?
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Gross domestic product is the total of the prices of the final value added goods and services. The mammoth task of calculating the gdp is undertaken by a central government ministry.
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gross domestic product =gross national product - net income earned from abroad.
where Gross National Product is the current market value of all final goods and services produced in a country during the year including net income from abroad. the main components of GNP are:
1. the goods and services purchased by consumers( consumption-c)
2. gross private domestic investment in capital goods(investment-I)
3. goods and services consumed by the government(government expenditure-G)
4. net income earned through international trade(value of exports -value of imprts)
I.e (x-m).
GNP=C+I+G+(X-M)
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where Gross National Product is the current market value of all final goods and services produced in a country during the year including net income from abroad. the main components of GNP are:
1. the goods and services purchased by consumers( consumption-c)
2. gross private domestic investment in capital goods(investment-I)
3. goods and services consumed by the government(government expenditure-G)
4. net income earned through international trade(value of exports -value of imprts)
I.e (x-m).
GNP=C+I+G+(X-M)
follow my brainly a/c for future needs...
mehtasiya27:
How is gross national product calculated?
see I edited the answer
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