How to calculate 2014, 2015 GDP? Also the net domestic product of 2014, 2015.
Answers should be: (2014 GDP: $17,651, 2015
GDP: $18,290
, 2014 dp: a. $14,906, 2015
dp: e. $15,460
)
Solution:
National Income or Net Domestic Product = Compensation of employees (i.e. wages and salaries + supplements to wages and salaries) + Net Operating Surplus (i.e. private enterprises + government enterprises) +(Business taxes - Business Subsidies)
And Gross domestic product GDP = NDP +Depreciation or capital consumption allowance + adjustments
Now NDP for 2014 = 9264+4489+1210-57 = $14,906 billion
NDP for 2015 = 9704+4575+1238-57 = $15460 billion
GDP for 2014 = 14906 + 2745 = $17,651 billion
GDP for 2015 = 15460 + 2831 = $18,291 billion
How to calculate 2014, 2015 GDP? Also the net domestic product of 2014, 2015. Answers should...