Question

What are the methods of calculating Gross domestic product? Explain them.​

Answer 1

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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Answer 2

Answer:

the total amount earn by the all three sectors(primary, secondary, tertiary) is equals to our GDP.

P+S+T=GDP

where P is primary sector

S is secondary sector

T is tertiary sector.