Unlike nominal GDP, real GDP accounts for changes in price levels and provides ... approach and calculated using the following formula: GDP = C + G + I + NX (where C=consumption; G=government ...

The net exports formula subtracts total exports from total ... and revisions can be large enough to significantly alter the percentage change in GDP. History of GDP The concept of GDP was first ...

Nor does it incorporate changes in the value of assets, such as the depletion of resources or loss of biodiversity: GDP does not net these off the flow of transactions during the period it covers. The ...