Question

Which of these economic indicators would be most

Answer 1

Answer:

GDP(Gross Domestic Production) is used to detect inflation in the nation.

Explanation:

• GDP is a round figure of production of the nation which means taxes, wages, salaries, imported money, foreign exchange currency etc. that all comes under  GDP.

• Through GDP, the nation concludes its inflation and production rate of the country. GDP also affects the stock market.

• GDP used to analyse performance of a country in a year. The next year’s budget is based on GDP which helps to bring economic reforms for the next economic year.