Question

What is GDP of a country ? How a country can be judge by its GDP?​

Answer 1

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Answer

☛The Gross Domestic Product measures the value of economic activity within a country. Strictly defined, GDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time

☞Written out, the equation for calculating GDP is: 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 put.

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Answer 2

GDP is the sum of the Market value s