How do statisticians and economists measure GDP? Specifically, what is the formula used? Define the component parts of the equation.   Please no answers lifted from other places.

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
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 How do statisticians and economists measure GDP? Specifically, what is the formula used?  Define the component parts of the equation.

 

Please no answers lifted from other places.

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