Question

What is DGP ? explain with the example how to calculate GDP of our country?

Answer 1

HI!!

HERE IZ UR ANSWER.

GDP is Gross Domestic Product which means the total amount of goods produced in a year.It is useful to compare the econimies of two country.

GDP of India is 2.264 trillion US Dollars.

To calculate the GDP, there are two methods:-

1. Nominal Method
2. Expenditure method

Expenditure method is more common, To calculate GDP by this method, we add

CONSUMPTION OF A COUNTRY + INVESTMENT MADE + GOVT. SPENDING + (EXPORTS - IMPORTS)

The calculation is done by CENTRAL STATISTICS OFFICER under Ministry of Statistics and Programme Implementation.

HOPE IT HELPS!!

Answer 2

Answer :-

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)