Tuesday, January 4, 2011

Post 11: How is a GDP Calculated?

GDP=total output produced within the boundaries of the US

GDP Formula...
C + I + G + NX=M

C =consumer spending
I = investments
G = government purchases
NX= net exports
M= GDP and national income

Rules include....
1) Product must be made in your country
2) Product must be within country's border
3) Product must be final good or service

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