What is GDP ? How it is calculate?
Answers
Answer:Gross Domestic Product
Explanation:Gross Domestic Product(GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.
GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports).
In easy language.......
There are three ways of calculating GDP - all of which in theory should sum to the same amount:
National Output = National Expenditure (Aggregate Demand) = National Income.
(i) The Expenditure Method - Aggregate Demand (AD)
GDP = C + I + G + (X-M) where.
The Income Method – adding together factor incomes.
Hope this helps you ❣️.........
Answer:
gross domestic product
Explanation:
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