GDP = Total GDP
They should be the same thing as GDP is defined as "the total value of all spending on goods and services in an economy over a given period of time".
It's also equal to the total amount of income in an economy (lookup the circular flow of income).
They should be the same thing as GDP is defined as "the total value of all spending on goods and services in an economy over a given period of time".
It's also equal to the total amount of income in an economy (lookup the circular flow of income).
Original post by Student 1011
GDP = Total GDP
They should be the same thing as GDP is defined as "the total value of all spending on goods and services in an economy over a given period of time".
It's also equal to the total amount of income in an economy (lookup the circular flow of income).
They should be the same thing as GDP is defined as "the total value of all spending on goods and services in an economy over a given period of time".
It's also equal to the total amount of income in an economy (lookup the circular flow of income).
Thanks so much! It got me confused when I saw "Total GDP" and "GDP" in the same sentence
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