The formula is GDP = C + I + G + (X - M). Gross investment includes both replacement investment and net investment. Net investment only includes the addition to capital stock, excluding depreciation. Gross exports is just X, not X-M.
In an open economy, GDP is the sum of
Asked in TNPSC CS Prelims 2017 · Topic: National Income & Gross Domestic Product (Gross Domestic Product (GDP): Concepts and Measures)
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Answer: A. Consumption, gross investment, government spending and net exports
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