Which of the following will have an effect on the gdp of the country

Question

Social Studies

Reece Lawson

4 October, 02:43

Which of the following will have an effect on the gdp of the country

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Answers (1)

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Jasiah · Answer 1

GDP is a useful indicator of a nation's economic performance, and it is the most commonly used measure of well-being. However, it has some important limitations, including: The exclusion of non-market transactions. The failure to account for or represent the degree of income inequality in society.

Explanation:

While the gross domestic product go up, the consumption, government spending, investment, net exports, all will be increased ... An increasing GDP means that the economy is growing. Businesses are producing and selling more products or services. According to the International Monetary Fund, these are the highest ranking countries in the world in nominal GDP: United States (GDP: $20,494,050) China (GDP: $13,407,398) It does not include productive activity that does not have a market transaction. Although GDP and its related concepts are useful in measuring a country's output, income, and standard of living, they are not perfect measures of quality of life.