How to calculate GDP of a nation
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GDP = Gross Domestic Product of a Nation
= C + G + I + NX
where C = All private consumption by people = Consumer spending
G = all Government spending or expenditure
I = Investment by all business houses,
capital expenditures by everyone in the country.
NX = The country's Net exports
NX = Total Exports - Total Imports.
GDP is calculated over a period.
This calculation and relevant data collection is done by the Central statistical office.
= C + G + I + NX
where C = All private consumption by people = Consumer spending
G = all Government spending or expenditure
I = Investment by all business houses,
capital expenditures by everyone in the country.
NX = The country's Net exports
NX = Total Exports - Total Imports.
GDP is calculated over a period.
This calculation and relevant data collection is done by the Central statistical office.
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"
GDP stands for Gross Domestic Product.
- It is the sum of production in all sectors.in india this mammoth task is undertaken by central govt. ministry.
GDP = C + I + G + (X – M)
where
- C = private consumption
- I = gross investment
- G = government investment + government spending
- X = exports
- M = imports
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