Question

How to calculate GDP ?

Answer 1

Explanation:

The following equation is used to calculate the GDP:

1.GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports).

2.Nominal value changes due to shifts in quantity and price.

Answer 2

• Gross domestic product is the market value of all final goods and services produced within the national borders of a country for a given period of time.
• GDP can be measured using the expenditure approach: Y = C + I + G + (X – M).