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Juliette [100K]
3 years ago
14

What is GDP, and how is it useful?

History
1 answer:
ahrayia [7]3 years ago
3 0

GDP (gross domestic product) measures the total market value (gross) of all U.S. (domestic) goods and services produced (product) in a given year.

Policymakers, government officials, businesses, economists and the public alike rely on GDP and related statistics to help assess the economy’s well-being and to make informed decisions.

(Policymakers will look to GDP when contemplating decisions on interest rates, tax and trade policies.

The pace at which our economy is growing affects business conditions and investment decisions, as well as whether workers can find jobs.

State and local governments rely on GDP and similar statistics to help shape policy or decide how much public spending is affordable.

Economists study GDP and related statistics to help inform their research.)

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Sunny_sXe [5.5K]

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The French traded furs for iron tools, kettles, wool blankets, and other supplies, while Native Americans exchanged furs for items from all over the world.

Explanation:

Before Europeans arrived in the mid-1600s, Native Americans traded throughout the rivers of present-day Minnesota and across the Great Lakes. Following that, European American traders traded manufactured products for precious furs with Native Americans for approximately 200 years.

Fur-bearing animals were mostly trapped by the Dakota and Ojibwe in the Northwest Territory. In the region's forests and streams, they obtained a variety of furs, the most important of which was beaver. Traders from France, the United Kingdom, and the United States offered blankets, rifles and ammunition, fabric, metal tools, and brass kettles in return for the furs.

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These animals changed how Native Americans lived, ate, and fought. They were able to use horses to travel more quickly, fight their enemies, and eventually in agriculture. The animals also brought disease which harmed the Native Americans.
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