Does disposable income,personal taxes, indirect business taxes, and personal saving calculated in GDP?
GDP is defined as the total market value of all final goods and services produced within a given country in a given period of time (usually a calendar year). It is also considered the sum of value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time, and it is given a money value. GDP = consumption + gross investment + government spending + (exports − imports), or, GDP = C + I + G + (X-M) “C” is private consumption in the economy. This includes most personal expenditures of households such as food, rent, medical expenses and so on but does not include new housing. “I” is defined as investments by business or households in capital. Examples of investment by a business include construction of a new mine, purchase of software, or purchase of machinery and equipment for a factory. Spending by households on new houses is also included in Investment. “G” is the sum of government expenditures on final
