Question

In: Economics

How to create and provide one original GDP graph?

How to create and provide one original GDP graph?

Solutions

Expert Solution

The gross domestic product (GDP) of a particular nation is the value of total production of goods and services within the boundaries of a nation for a given period of time. While making a graph of GDP, it permits you to perceive how a nation is developing or contracting in its economy. The GDP gives a preview of all the cash a nation produces through selling items and services and the value of imports and exports. The higher the level of GDP, the bigger the nation's economy. You can see two distinct nations on a chart for a visual portrayal of how their GDPs are developing or contracting.

For making a graph, x-axis represents various years. For example, the graph indicates years from 1980 to 2020 along the x-axis. Whereas, y-axis represents the GDP data of a particular nation. Now, we just have to plot the points from data given on the graph.

The following is the GDP graph of India for the period 2010-20. It means that the graph will show the GDP data for the 10 years.


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