Question

How to calculate GDP
class chal economics ​

Answer 1

Answer:

It is used as a macroeconomic measure of the total income of a country. There are three different methods (Expenditure, Income and Production) which can be used to measure the GDP of a country. All of these methods in theory should sum to the same amount.

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

Answer 2

Answer:

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.

Explanation:

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