Question

what is GDP? Explain the process to calculate GDP.

Answer 1

The good and services produced in a country with in a given period of time is known as GDP....
GDP = Consumption + Government Expenditures +Investment+ Exports - Imports.

Answer 2

ANSWER:

GDP is defined as the gross domestic product. The money value of the total number of goods produced and the services made is called gross domestic product.

EXPLANATION:

The goods must the finished good which is produced over a certain period of time. The values of the finished goods are only taken into the account because to avoid the factor called as the double spending. The raw products nor the immediate finished goods are not taken into the account.

GDP = value of the output - the value of the intermediate goods.