What is the what is gdp explain the process to calculate gdp?
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Explanation:
Nominal GDP: It is calculated as the multiplication of amount of finally produced goods and services in a year and the money value of that goods and services in that year. ... Production Method/Output Method: GDP= Final Product Value= Sum of Value Added in each process of production.
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⭕ɢᴅᴘ ɪs ᴄᴀʟᴄᴜʟᴀᴛᴇᴅ ᴀs ᴛʜᴇ ᴍᴜʟᴛɪᴘʟɪᴄᴀᴛɪᴏɴ ᴏғ ᴍᴏɴᴇʏ ᴠᴀʟᴜᴇ ᴏғ ғɪɴᴀʟ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ᴘʀᴏᴅᴜᴄᴇᴅ ɪɴ ᴀ ʏᴇᴀʀ ᴀɴᴅ ᴛʜᴇ ϙᴜᴀɴᴛɪᴛʏ ᴏғ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴇᴅ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs.
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