Question.3212 - GROSS DOMESTIC PRODUCT (GDP)
Answer Below:
GDP xx the xxxx used xx refer xx the xxxxxxxx health xx a xxxxxxx as xxxx as xx measure xxx country x standard xx living xxx monetary xxxxx of xxx the xxxxxxxx goods xxx services xxxxxxxx within x country x borders xx a xxxxxxxx time xxxxxx though xxx is xxxxxxx calculated xx an xxxxxx basis xx includes xxx of xxxxxxx and xxxxxx consumption xxxxxxxxxx outlays xxxxxxxxxxx and xxxxxxx less xxxxxxx that xxxxx within x defined xxxxxxxxx GDP x G x NXwhere xxxx C xxxx is xxxxx to xxx private xxxxxxxxxxx or xxxxxxxx spending xx a xxxxxx s xxxxxxx quot x quot xx the xxx of xxxxxxxxxx spending xxxx I xxxx is xxx sum xx all xxx country x businesses xxxxxxxx on xxxxxxx quot xx quot xx the xxxxxx s xxxxx net xxxxxxx calculated xx total xxxxxxx minus xxxxx imports xx Exports x Imports xxxxxxx GDPIn xxxxxxx it xx a xxx in xxxxx inflation xx not xxxxxxxx Real xxxxx General xx is x GDP xx which xxxxxxxxx is xxxxxxxx When xxxxxx we xxx real xxx numbers xxx when xx nominal xxx used xx important xxxxxxxx arises xxxx Nominal xx Real xxx should xx used xxxxxxx GDP xxxxxxxxx the xxxxx value xx the xxxxxxxx and xxxxxxxx manufactured xx a xxxxxxx during x particular xxxx However xxxx one xxxxx to xxxxxxx GDP xx one xxxx with xxxx years xx study xxxxxx in xxxxxxxx growth xxxx GDP xx used xx definition xxxxx real xxx is xxxxxxxxxx using xxxxxx of x given xxxx base xxxx quot xxxx GDP xxx no xxxxxxx by xxxxxx unless xx is xxxxxxxx to xxx of x different xxxx An xxxxx called xxx GDP xxxxxxxx can xx obtained xx dividing xxx each xxxx the xxxxxxx GDP xx the xxxx GDP xx gives xx indication xx the xxxxxxx level xx inflation xx deflation xx the xxxxxxx Examples xx were xxxxxx as xxx base xxxx then xxxx GDP xxx is xxxxxxxxxx by xxxxxx the xxxxxxxxxx of xxx goods xxx services xxxxxxxxx in xxx multiplying xxxx by xxxxx prices xxx above xxxxx shows xxx Gross xxxxxxxx Product xx USA xxxx the xxxx to xxxxMore Articles From Economics
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