At the end of the year 2020, Statistics Kenya estimated the total amount spent on consumption, government purchases, investment and net export of goods and services to arrive at the country’s GDP. What measurement approach is described above?

At the end of the year 2020, Statistics Kenya estimated the total amount spent on consumption, government purchases, investment and net export of goods and services to arrive at the country’s GDP. What measurement approach is described above?

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter15: Gross Domestic Product

Section: Chapter Questions

Problem 8SQP

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At the end of the year 2020, Statistics Kenya estimated the total amount spent on consumption, government purchases, investment and net export of goods and services to arrive at the country’s GDP.

What measurement approach is described above?

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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