How do economists calculate gross domestic product?

Question

By adding up all the taxes collected by federal and state governments during one year
By adding up all of the products consumed within a nation during one year
By adding up all the goods and services produced within a country during one year
By adding up all the jobs that were added to a countries economy during one year

Answer 1

By adding up all the goods and services produced within a country during one year. This includes consumption, investment, government spending, and net exports.