what is GDP? Discuss the rules for computing GDP?
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Written out, the equation for calculating GDPis: GDP = private consumption + gross investment + government investment + government spending + (exports – imports). For the gross domestic product, “gross” means that the GDP measures production regardless of the various uses to which the product can be put.
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Easy def...
GDP IS SUM OF ALL GOOD PRODUCED IN ALL SECTOR IN PARTUCAL YEAR....
IT IS COUNTED BY CSO
WHILE COUNTING THE GDP VALUE WE HAVE ONLY COUNT THE VALUE OF FINAL GOOD NOT INTERMEDIATE GOOD
I AM ALSO IN CLASS 10
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