Gross Domestic Product (Gdp): A Comprehensive Guide To Economic Measurement And Policymaking
Gross Domestic Product (GDP) measures a country’s economic activity and well-being. By calculating GDP per capita, real GDP, nominal GDP, and the GDP deflator, economists assess economic growth, inflation, and economic distress (through indicators like the Misery Index). GDP growth rate, potential GDP, and the Phillips Curve are used to understand the relationship between unemployment…