Question

what is Gross Domestic product how can it be calculated ​

Answer 1

Answer:

Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes.

The formula for real GDP is nominal GDP divided by the deflator: R = N/D. $19.073 trillion = $21.427 trillion/1.1234.

Explanation:

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