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For Economic Growth: What is the Nominal GDP (be sure to round) for the latest quarter?...

For Economic Growth:
What is the Nominal GDP (be sure to round) for the latest quarter?

Source:
:http://bea.gov/national/index.htm#gdp
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Answer #1

As we know that, GDP is the monetary value of all goods and services produced in an economy over a period of time say one year. The GDP is expressed by an equation as:-

GDP = C + I + G +(X-M).

We know that the nominal GDP is the value of all the final goods and services that an economy produced during a given year. It is calculated by using the prices that are current in the year in which the output is produced.

The GDP is 20.54 lakh crores as per the latest report. United States Nominal GDP. United States's Nominal GDP reached 5,383.7 USD bn in Mar 2020, compared with 5,432.3 USD bn in the previous quarter. The current GDP rate of US is -5%. The US is heading towards recession due to the ongoing pandemic.

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