Question

How to obtain GDP? ​

Answer 1

Answer:

Key Points

The following equation is used to calculate the GDP: GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports).

Nominal value changes due to shifts in quantity and price.

In economics, real value is not influenced by changes in price, it is only impacted by changes in quantity. Real values measure the purchasing power net of any price changes over time.

Real GDP accounts for inflation and deflation. It transforms the money-value measure, nominal GDP, into an index for quantity of total output.

Key Terms

nominal: Without adjustment to remove the effects of inflation (in contrast to real).

gross domestic product: Known also as GDP, this is a measure of the economic production of a particular territory in financial capital terms over a specific time period.

Explanation:

Answer 2

Answer:

heya ......ur answer.....

Explanation:

1. The following equation is used to calculate the GDP: 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.....

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