Running head: GROSS DOMESTIC PRODUCT
Gross Domestic Product
GROSS DOMESTIC PRODUCT
Gross domestic product
1. What does Gross Domestic Product (GDP) measure?
GDP measures the estimated value of goods and services that a particular region
produces within a given period, which means that it serves as the measure of that region’s
economy and the health of this economy.
2. What is the equation used to calculate Gross Domestic Product (GDP)?
GDP = C + G + I + NX
C stands for private consumption, G for the government expenditure, I is for the
investments that an economy has made, and NX is the net exports, which is calculated by
subtracting the imports from the exports that ...
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