How does a country's GDP help you determine if its economy is strong or weak?

2 answers:

8 0

The GDP means gross domestic product. When it increases then it means the economy is getting stronger or is already strong. If it decreases then it becomes weaker or is already weak.

Nonamiya [84]3 years ago

7 0

The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period, often referred to as the size of the economy. Usually, GDP is expressed as a comparison to the previous quarter or year. For example, if the Q3 2017 GDP of a country is up 3%, the economy of that country has grown by 3% over the third quarter. While quarterly growth rates are a periodic measure of how the economy is faring, annual GDP figures are often considered the benchmark for the size of the economy.

Read more: What is GDP and why is it so important to economists and investors? | Investopedia https://www.investopedia.com/ask/answers/what-is-gdp-why-its-important-to-economists-investors/#ixzz5Q9HNoybf

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