Gross Domestic Product Calculator

✖Private Consumption is defined as the value of the consumption goods and services acquired and consumed by households.ⓘ Private Consumption [PCN]			+10% -10%
✖Gross Investment is the amount spent by a company or an economy on capital assets.ⓘ Gross Investment [GI]			+10% -10%
✖Government Consumption is something that buys goods and services produced in the economy and which is not a transfer payment of money collected in taxation from one group in society to another.ⓘ Government Consumption [G]			+10% -10%
✖Net Exports of Goods and Services are the difference between a country's total value of exports and the total value of imports.ⓘ Net Exports of Goods and Services [NX]			+10% -10%

✖Gross Domestic Product is the monetary value of all the finished goods and services produced within a country's borders in a specific time.ⓘ Gross Domestic Product [GDP]

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Formula

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Gross Domestic Product

Formula

`"GDP" = "PCN"+"GI"+"G"+"NX"`

Example

`"7.8E^8"="1215"+"80000"+"780000000"+"30000"`

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Gross Domestic Product Solution

STEP 0: Pre-Calculation Summary

Formula Used

Gross Domestic Product = Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services
GDP = PCN+GI+G+NX
This formula uses 5 Variables

Variables Used

Gross Domestic Product - Gross Domestic Product is the monetary value of all the finished goods and services produced within a country's borders in a specific time.
Private Consumption - Private Consumption is defined as the value of the consumption goods and services acquired and consumed by households.
Gross Investment - Gross Investment is the amount spent by a company or an economy on capital assets.
Government Consumption - Government Consumption is something that buys goods and services produced in the economy and which is not a transfer payment of money collected in taxation from one group in society to another.
Net Exports of Goods and Services - Net Exports of Goods and Services are the difference between a country's total value of exports and the total value of imports.

STEP 1: Convert Input(s) to Base Unit

Private Consumption: 1215 --> No Conversion Required
Gross Investment: 80000 --> No Conversion Required
Government Consumption: 780000000 --> No Conversion Required
Net Exports of Goods and Services: 30000 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

GDP = PCN+GI+G+NX --> 1215+80000+780000000+30000

Evaluating ... ...

GDP = 780111215

STEP 3: Convert Result to Output's Unit

780111215 --> No Conversion Required

FINAL ANSWER

780111215 ≈ 7.8E+8 <-- Gross Domestic Product

(Calculation completed in 00.004 seconds)

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< 12 Microeconomics Calculators

Gross Domestic Product

Go Gross Domestic Product = Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services

Philips Curve

Go Philips Curve = Expected Inflation-Fixed Positive Coefficient*(Unemployment Today-Unemployment at Natural Rate)

Rate of Inflation

Go Rate of Inflation = (Ending Consumer Price Index-Initial Consumer Price Index)/Initial Consumer Price Index

Equation of Motion for Capital Stock

Go Equation of Motion for Capital Stock = (1-Depreciation)*Capital Used Today+Investment Today

GDP Deflator

Go Gross Domestic Product Deflator = Nominal Gross Domestic Product/Real Gross Domestic Product*100

Price Elasticity of Demand

Go Price Elasticity of Demand = Percentage Change in QD/Percentage Change in Price

Marginal Efficiency of Investment

Go Marginal Efficiency of Investment = Prospective Yield/Supply Price*100

Average Variable Cost

Go Average Variable Cost = Total Variable Cost/Quantity of Each Order

Average Total Cost

Go Average Total Cost = Total Cost/Quantity of Each Order

Marginal Cost

Go Marginal Cost = Change in Total Costs/Change in Output

Net Exports of Goods and Services

Go Net Exports of Goods and Services = Exports-Imports

Investment Multiplier

Go Investment Multiplier = 1/(1-Marginal Propensity to Consume)

Gross Domestic Product Formula

Gross Domestic Product = Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services
GDP = PCN+GI+G+NX

What is GDP?

GDP serves as a gauge of our economy’s overall size and health. When compared with prior periods, GDP tells us whether the economy is expanding by producing more goods and services, or contracting due to less output. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well. When real GDP is growing strongly, employment is likely to be increasing as companies hire more workers for their factories and people have more money in their pockets. When GDP is shrinking, as it did in many countries during the recent global economic crisis, employment often declines.

How to Calculate Gross Domestic Product?

Gross Domestic Product calculator uses Gross Domestic Product = Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services to calculate the Gross Domestic Product, Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Gross Domestic Product is denoted by GDP symbol.

How to calculate Gross Domestic Product using this online calculator? To use this online calculator for Gross Domestic Product, enter Private Consumption (PCN), Gross Investment (GI), Government Consumption (G) & Net Exports of Goods and Services (NX) and hit the calculate button. Here is how the Gross Domestic Product calculation can be explained with given input values -> 7.8E+8 = 1215+80000+780000000+30000.

FAQ

What is Gross Domestic Product?

Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period and is represented as GDP = PCN+GI+G+NX or Gross Domestic Product = Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services. Private Consumption is defined as the value of the consumption goods and services acquired and consumed by households, Gross Investment is the amount spent by a company or an economy on capital assets, Government Consumption is something that buys goods and services produced in the economy and which is not a transfer payment of money collected in taxation from one group in society to another & Net Exports of Goods and Services are the difference between a country's total value of exports and the total value of imports.

How to calculate Gross Domestic Product?

Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period is calculated using Gross Domestic Product = Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services. To calculate Gross Domestic Product, you need Private Consumption (PCN), Gross Investment (GI), Government Consumption (G) & Net Exports of Goods and Services (NX). With our tool, you need to enter the respective value for Private Consumption, Gross Investment, Government Consumption & Net Exports of Goods and Services and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

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