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What is Gross Domestic Product (GDP) ? Write the Formula to Calculate Gross Domestic Product at Market Price.

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Gross Domestic Product at Market Price is the Sum of Market Value of all Final Goods and Services produced inside the Domestic Territory of a Country by all the Producers, during an Accounting Year.

GDPMP = C + I + G + (X – M)

Here GDPMP = Gross Domestic Product at Market Price 

C = Consumption Expenditure

I = Investment Expenditure

G = Government Expenditure

(X – M) = Net Exports

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