Question
In: Economics
What does United States GDP measure and what should United States GDP measure?
What does United States GDP measure
and what should United States GDP
measure?
Solutions
Expert Solution
GDP is the monetary measure of all final goods and services produced within US boundary in a given period. It measures the overall size of an economy .
The US GDP is calculated using expenditure method: GDP = C+I+G+NX
All these components contribute to the US economy. The largest contribution comes from consumption spending which accounts for more than two-thirds of the US GDP. It includes both durable and non-durable items. Government purchases represent government consumption and gross investment. Investment includes both fixed and residential investment. Net exports is exports less imports.
Rahul Sunny answered 1 year agoRelated Solutions
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