What the strategy adopted by India to calculate the GDP of the country. b) What the strategy adopted by China to calculate the GDP of the country. c) Which strategy is better? Why?
What the strategy adopted by India to calculate the GDP of the country. b) What the strategy adopted by China to calculate the GDP of the country. c) Which strategy is better? Why?
What the strategy adopted by India to calculate the GDP of the country. b) What the strategy adopted by China to calculate the GDP of the country. c) Which strategy is better? Why?
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India and China are the two major economies in the Asian continent. Both countries have a trillion-dollar GDP. Suppose to calculate the GDP of the year 2021, India has decided to use the prices and quantities of the year 2021 whereas China decided to use the prices of 2020 and quantities of 2021. You are required to answer the following.
a) What the strategy adopted by India to calculate the GDP of the country.
b) What the strategy adopted by China to calculate the GDP of the country.
c) Which strategy is better? Why?
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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