Question

what is gdp? how is it calculated?

Answer 1

Hey mate-------------------
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here's ur answer⬇⬇⬇⬇⬇⬇⬇:-) :-)

• Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. 

• It also represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

• 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.

HOPE IT HELPS U :-)

Answer 2

Answer:

Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a specific time period.

GDP can be calculated by adding up all of the money spent by consumers, businesses, and government in a given period. It may also be calculated by adding up all of the money received by all the participants in the economy. In either case, the number is an estimate of "nominal GDP."