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Describe Gross Domestic Product (GDP), do you think it is helpful in the US?
Solution
GDP is the best way to measure a ckuntry's economy.It includes everything produced by all
people and companies that are in country.The value of a country's overall output of goods and
services at market prices excluding net income from abroad.GDP= C+I +G+(X-M).
No, it is not helpful in US because it cant differentiate between spending on good things and
terrible things.It doesnot measure the economic services that nature provides .

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Describe Gross Domestic Product (GDP), do you think it is helpful in.pdf

  • 1. Describe Gross Domestic Product (GDP), do you think it is helpful in the US? Solution GDP is the best way to measure a ckuntry's economy.It includes everything produced by all people and companies that are in country.The value of a country's overall output of goods and services at market prices excluding net income from abroad.GDP= C+I +G+(X-M). No, it is not helpful in US because it cant differentiate between spending on good things and terrible things.It doesnot measure the economic services that nature provides .