Question

GDP calculates the value of the overall economy on a ______ basis monthly daily yearly quartly

Answer 1

GDP calculates the value of the overall economy on a yearly basis. The definition of GDP is a measure of the size of the economy and is also recognized as "the aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production ." It is usually used to calculate the economic performance of a whole country or region, but can also be used to calculate the relative contribution of an industry sector.