The formula to calculate the Gross Domestic Product is:
GDP=Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services
Where:
Gross Domestic Product is the monetary value of all the finished goods and services produced within a country's borders in a specific time.
Let's assume the following values:
Using the formula:
GDP=1,215+80,000+780,000,000+30,000
Evaluating:
GDP=780,111,215
The Gross Domestic Product is $780,111,215.
Private Consumption | Gross Investment | Government Consumption | Net Exports | Gross Domestic Product |
---|---|---|---|---|
1000 | 75000 | 780000000 | 30000 | 780,106,000.00 |
1000 | 80000 | 780000000 | 30000 | 780,111,000.00 |
1000 | 85000 | 780000000 | 30000 | 780,116,000.00 |
1500 | 75000 | 780000000 | 30000 | 780,106,500.00 |
1500 | 80000 | 780000000 | 30000 | 780,111,500.00 |
1500 | 85000 | 780000000 | 30000 | 780,116,500.00 |
2000 | 75000 | 780000000 | 30000 | 780,107,000.00 |
2000 | 80000 | 780000000 | 30000 | 780,112,000.00 |
2000 | 85000 | 780000000 | 30000 | 780,117,000.00 |