The next wave of marketable innovations may involve new ways to produce and conserve energy. If we can turn new technology into marketable products and services that produce energy to run our businesses and homes, the U. S. could see a surge in output of goods and services. The Department of Economic Development would document this surge by measuring the

Question

Ryder Fox

Business

26 January, 13:12

The next wave of marketable innovations may involve new ways to produce and conserve energy. If we can turn new technology into marketable products and services that produce energy to run our businesses and homes, the U. S. could see a surge in output of goods and services. The Department of Economic Development would document this surge by measuring the

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Answers (1)

Know the Answer?

Louis Yang · Answer 1

The answer is: Gross Domestic Product (GDP)

Explanation:

The gross domestic product of a country is the sum of the total value of goods produced and services provided in that country during one time period (usually a year). It is the measure of a country's total economic activity.

The formula used to calculate the GDP is:

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

C = private consumption

I = investment

G = government spending

X = exports

M = imports