0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the better measurement of economic development?
GDP..
What economic measurement does the U.S. government use to report the nations production output?
The "GDP".
What economic measurement does the U.S. government use to report the nation's production output?
The "GDP".
What is the best measurement for comparing the standard of living between two countries?
The best measurement for comparing the standard of living between two countries is the GDP in conjunction with the economic growth. GDP stands for Gross Domestic product.
Why do economics measure the gross domestic product?
Economists use real GDP per capita rather than simply real GDP. This is because population growth is an important variable (per capita), and so, real GDP per capita is the more accurate measurement of the GDP.
Real GDP?
a measurement of economic output minus the effects of inflation or deflation, gives a more realistic assessment of growth
What type of measurement economic indicator is gross domestic product?
Gross domestic product (GDP) is a measure of total wealth in a given region.
How does GDP affect businesses?
Gross domestic product (GDP) is a broad measure of the nation's economic activity. For small businesses, which are often sensitive to the economic climate, GDP can be an important measure of current business prospects. Because GDP measures overall economic output, small businesses may carefully watch GDP figures to determine how the economy is faring and how their own results compare with the results of other businesses.
What is The single most important measure of the economy's overall economic performance?
Gross Domestic Product (GDP)
What helps economics judge the overall condition of a particular countrys economy?
A measurement of economic indicators.
Advantages and disadvantage of using the GDP as a measure of productivity and economic health?
The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.
What is a country's GDP?
A country's GDP is the market-valued sum of all its economic activity.
