Answer Posted / vandana gupta
The monetary value of all the finished goods and services
produced within a country's borders in a specific time
period, though GDP is usually calculated on an annual
basis. It includes all of private and public consumption,
government outlays, investments and exports less imports
that occur within a defined territory.
GDP = C + G + I + NX
where:
"C" is equal to all private consumption, or consumer
spending, in a nation's economy
"G" is the sum of government spending
"I" is the sum of all the country's businesses spending on
capital
"NX" is the nation's total net exports, calculated as total
exports minus total imports. (NX = Exports - Imports)
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