The U.S. GDP is primarily measured based on the expenditure approach and calculated using the following formula: GDP = C + G + I + NX (where C=consumption; G=government spending; I=Investment ...

Whereas the expenditure approach projects forward from costs ... What Is a Simple Definition of GDP? Gross domestic product is a measurement that seeks to capture a country’s economic output.

Gross domestic product ... the production approach to calculate GDP. Both GNP and GNI should theoretically yield the same result. GDP can be calculated in three ways, using expenditures ...