Answer: Option D
Answer: (d)
GDP is defined as the value of all final goods and services produced in an economy in a year.
The total quantity of goods produced in an economy during the year is multiplied by their current prices to get the GDP. Gross Domestic Product can be calculated using formulas.
GDP = C + G + I + NX
Where, C - Private consumption or consumer spending in the national economy.
G - Sum of Govt. spending.
I - Sum of all the country’s investment including business Capital expenditure.
NX - Nation’s total next exports
NX = Export – Import