Description
How is GDP a measure of both output and income? How is it possible that both measures of GDP - income and expenditure approach - can end up with the same number?
Explanation & Answer
Gross domestic product is the goods and service produced in a given financial year. Most countries measure their Gross domestic products to analyze the growth and stability of their economies.Moreover GDP analysis are used as regulatory tools in the country since they indicate the most productive areas and poor performing areas in the country.
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
The Woman in the Window
by A. J. Finn
The Awakening
by Kate Chopin
Othello
by Wiliam Shakespeare
The Catcher in the Rye
by J. D. Salinger
The Goldfinch
by Donna Tartt
A Passage to India
by E. M. Forster
The Scarlet Letter
by Nathaniel Hawthorne
Siddhartha
by Hermann Hesse
Where the Crawdads Sing
by Delia Owens