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Answer to Question #59871 in Macroeconomics for Paola

Question #59871
What is gdp
Expert's answer
Gross Domestic Product is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period (quarterly or yearly). Gross Domestic Product can be calculated using the following formula:
here, 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 investment, including businesses capital expenditures, NX is the nation’s total net exports (can be calculated as total exports minus total imports).

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