Unformatted text preview: 3. GDP is calculated for a specific period of time, usually a year or a quarter of a year. Taken together, these three aspects of GNP calculation provide a standard basis for the comparison of GDP across both time and distinct national economies. Computing GDP Now that we have an idea of what GDP is, let's go over how to compute it. We know that in an economy, GDP is the monetary value of all final goods and services produced. For example, let's say Country B only produces bananas and backrubs....
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- Fall '10
- Economics, Gdp, Economy of the United States, gross domestic product, Final goods