What is
GDP?
The total dollar value of all final goods and services
produced in the nation during a single year
Th ere are t w o [ 2 ] m et h od s t o calcu lat in g GDP:  EXPENSE
METHOD ( m ost com m on ) d an d  I NCOME METHOD .
EXPEN SE
GPD = Con su m er + I n vest m en t + Govern m en t + Export s ( N )
I N COME
GDP = Wag es + I n t erest + Ren t s + Profit s
produced in the nation during a single year.