The change in inventories, a component of aggregate supply, comprises roughly 0.5% of GDP.
Gross domestic product or GDP is a broad monetary measure of a nation’s overall economic activity. It is a measure of the value of all final goods and services produced in a period. GDP is also used to measure a nation’s standard of living. It is the sum of all consumption, consumer spending, government spending, the country’s investment, business capital expenditures, and total net exports, i.e. difference between the total exports less total imports.
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by countries.
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