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Hello! The Gross Domestic Product (GDP) is a measure of the total value of goods and services produced in a country over a given period of time. It is calculated by adding up the total value of all goods and services produced in the country, including consumer spending, government spending, investments, and exports minus imports. In order to calculate GDP, economists use a variety of data sources such as surveys, economic models, and government statistics. The most common method used to calculate GDP is the expenditure approach. This approach measures the total amount spent on final goods and services within an economy during a given period of time. This includes consumer spending on items such as food, clothing, housing, transportation, health care, entertainment and other services; business investment in capital equipment such as machinery; government spending on infrastructure projects; and net exports (exports minus imports). Normal GDP growth is typically considered to be between 2-3% per year. This rate of growth is considered to be healthy for an economy as it indicates that there is enough economic activity to sustain growth without leading to inflationary pressures. However, this rate can vary depending on the country's economic conditions and other factors such as population growth or technological advances. I hope this answers your question about how GDP is calculated and what normal GDP growth looks like!

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