Question

How do economists measure economic growth?

Answer 1

Nations monitor a variety of statistics to measure economic growth such as national income (the total income from all sources earned in a nation over specified period of time) and gross domestic product or GDP (the total market value of all goods and service produced within a country during a specified period).

Answer 2

Answer:

GDP, is the right answer.

Explanation:

Gross domestic product is the most ideal approach to determine economic growth. It considers the nation's whole economic output. It incorporates all products and services that organizations in the nation produce and which is available for sale. The GDP doesn't make a difference whether they are sold in the home country or overseas.