Describe Gross Domestic Product GDP do you think it is helpf

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 .