how to calculate GDP ?
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Step-by-step explanation:
The U.S. GDP is primarily measured based on the expenditure approach. This approach can be calculated using the following formula: GDP = C + G + I + NX (where C=consumption; G=government spending; I=Investment; and NX=net exports). All these activities contribute to the GDP of a country
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GDP = C + G + I + NX
(where C=consumption; G=government spending; I=Investment; and NX=net exports).
Gross Domestic Product
Written out, the equation for calculating GDP is: GDP = private consumption + gross investment + government investment + government spending + (exports – imports).
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