Let C represent consumption expenditure, S saving, I gross private domestic investment, G government expenditure on goods and services, and X - M net exports of goods and services. Then GDP equals

Question

Quizplus · Accepted Answer

GDP is the total value of goods and services produced in a country in a given period of time. It is calculated by adding up consumption expenditure (C), gross private domestic investment (I), government expenditure on goods and services (G), and net exports of goods and services (X - M).

Let C Represent Consumption Expenditure, S Saving, I Gross Private