What is GDP ? How is it measured and who measures it ?
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GDP = Gross Domestic Product of a Nation
= C + G + I + NX
where C = All private consumption by people = Consumer spending
G = all Government spending or expenditure
I = Investment by all business houses,
capital expenditures by everyone in the country.
NX = The country's Net exports
NX = Total Exports - Total Imports.
GDP is calculated over a period.
There is a Central Statistical Department (office) under the ministry of Statistics and Program Implementation. The duty of this office is to collect all data from government and other agencies and calculate the GDP and other indicators.
= C + G + I + NX
where C = All private consumption by people = Consumer spending
G = all Government spending or expenditure
I = Investment by all business houses,
capital expenditures by everyone in the country.
NX = The country's Net exports
NX = Total Exports - Total Imports.
GDP is calculated over a period.
There is a Central Statistical Department (office) under the ministry of Statistics and Program Implementation. The duty of this office is to collect all data from government and other agencies and calculate the GDP and other indicators.
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