GDP

1. a basic measure of a nation’s economic output and income. It is the total market value, measured in dollars, of all final goods and services produced in the economy in one year.

1.1. The GDP can be figured out by adding

1.1.1. household consumption spending (c), investment expenditures (i), purchases by federal, state and local governments (g), and net exports (x).

1.1.1.1. The GDP of Norway is $282.2 Billion per year

1.1.1.1.1. (c)114,291,000,000 + (i)60,955,200,000 + (g)70,832,200,000 + (x)[112,597,800,000 - 76,476,200,000] = 282,200,000,000

2. GDP per capita

2.1. is GDP divided by the population of a country.

2.1.1. The population of Norway is 5,147,792 people

2.1.1.1. the GDP of Norway per capita would be

2.1.1.1.1. $282,200,000,000/5,147,792 people=$54,819.61