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How do imports and exports affect GDP?
GDP
GDP GDP
Questioner:Lucas Gonzales 2023-04-08 14:17:52
The most authoritative answer in 2024
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Lucas Turner——Works at the International Organization for Migration, Lives in Geneva, Switzerland.
If domestic consumers spend more on foreign products than domestic producers sell to foreign consumers �C a trade deficit �C then
GDP decreases. A standard formula for
GDP can be written as:
GDP = private consumption spending + investments + government spending + (
exports -
imports).
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