GDP is the most widely reported measure of the economy's output. It is the market value of the final goods and services produced in the economy within a particular time period.
Compute the GDP of Tanzania by using the following hypothetical information (all amounts are in trillions of dollars):
Consumption spending $150
Gross investment $55
Net investment $50
Government purchases $75
Government transfer payments $30
The formula GDP computation is:
Y = C + I + (X - M)+ G
Y = GDP
C = Consumer Spending
I = Investment made by industry
X = Exports
M = Imports
G = Government Spending
Given the data for Tanzania, you can compute this based on the ...
This is a simple and proper computation of the Gross National Product of Tanzania.