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The GDP or gross domestic product is calculated by the sum of Consumption, Investment, Government Spending, and Net Exports. GDP is defined as the sum of all goods and services that are produced within a nation's borders over a specific time interval, typically one calendar year.
Verla Becker
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∙ 8y agoThe gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and input for a given country's economy. GDP is defined as the total cost of all finished goods and services produced within the country in a stipulated period of time (usually a 365-day year). It is sometimes regarded as the sum of profits added at every level of production (the intermediate stages) of all final goods and services produced within a country in a stipulated time frame, and it is rarely given a monetary value.
Wiki User
∙ 15y agoIn the expenditure approach to calculating gross domestic product there are four factors: consumption, investment, and net exports. Consumption is the expenses of households on goods and services such as food, entertainment, and other individual needs. These products can include consumer durables (long term goods like cars and furniture), non-durables (food and movies), and services (medical attention, legal services, or a real estate agent). Investment is the expenses by firms on goods and services which mainly include capital. This includes business fixed capital, residential investment, and inventory investment. Business fixed capital is the purchase of new capital like new machinery, and new buildings. Residential investment is the construction of new homes or residential buildings. Inventory investment is the accumulation of unsold goods. Government expenses are all purchases made by any level of government for goods and services, like teacher salaries, or equipment in a federal building. This does not include transfer payments like social security or tax benefits. Net exports consist of exports minus imports. Exports are goods produced domestically and sold to Another Country. Imports are goods produced internationally and bought domestically.
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∙ 12y agoIt is created with part of chris crocker's soul, so don't ask me!
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What is the best definition of gross domestic product?
Gross Domestic PRoduct is the total amount of money per year
What is the best measure of Ghana's economic activities on Gross domestic product or Gross national product Explain?
Gross domestic product measure the total output produced from within the countries boarders. Gross national product measures the output generated by a countries enterprises. The best way to measure Ghana's economic activities would be to use gross domestic product.
What is the best measure of the value of output of an economy?
A country's gross domestic product (GDP) is a measure of a country's overall economic output.
What is the best description of gross domestic product?
the total retail market value of all the goods and services produced within a nation’s borders in a one-year span
Which of these is the best description of the Gross Domestic Product?
the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production
What is the best definition of gross domestic product?
Gross Domestic PRoduct is the total amount of money per year
What is the best measure of Ghana's economic activities on Gross domestic product or Gross national product Explain?
Gross domestic product measure the total output produced from within the countries boarders. Gross national product measures the output generated by a countries enterprises. The best way to measure Ghana's economic activities would be to use gross domestic product.
It's very difficult for any nation to have the best and at the same time?
a) gdp;hdi gross domestic product; Human Development Index ranking
If a country is at the top of the worlds Human Development Index rankings it probably will not have the world's best?
gross domestic product
Its very difficult for any nation to have the best and at the same time .?
gross domestic product; Human Development Index ranking
If a country is at the top of the world's Human Development Index rankings probably will not have the world's best?
military capabilities. The Human Development Index focuses on factors like education, health, and standard of living, whereas military capabilities are independently assessed based on a country's defense spending, technology, and strategy. A country can excel in one area while not necessarily leading in the other.
What is the best measure of the value of output of an economy?
A country's gross domestic product (GDP) is a measure of a country's overall economic output.
It's very difficult for any nation to have the best and at the same time.?
a) gdp;hdi gross domestic product; Human Development Index ranking
What best describes the economies of the North and South during the US Civil War?
The gross national product of the South and North during the Civil War was at 15 percent. This is the amount of domestic savings which was invested in product throughout all states within the country.
What is the best description of gross domestic product?
the total retail market value of all the goods and services produced within a nation’s borders in a one-year span
Which of these is the best description of the Gross Domestic Product?
the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production
The total market value of goods and services produced in a certain county during a specific period of time Which is a following best matched the definition above?
Gross domestic product
