What is the Expenditure System to calculate GDP?
Answer (1)
20th Jan, 2023
It includes expenditures incurred on goods and services by individuals within the country.
GDP = C + I + G + NX
Where C = consumption expenditure of an individual
I = Firm’s investment
G= Government Expenditure
X= Exports
M= Imports
NX= net exports (X - M)
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