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What is Gross Domestic Product (GDP) ? Write the Formula to Calculate Gross Domestic Product at Market Price. |
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Answer» Gross Domestic Product at Market Price is the Sum of Market Value of all Final Goods and Services produced inside the Domestic Territory of a Country by all the Producers, during an Accounting Year. GDPMP = C + I + G + (X – M) Here GDPMP = Gross Domestic Product at Market Price C = Consumption Expenditure I = Investment Expenditure G = Government Expenditure (X – M) = Net Exports |
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