What is the Purpose of the Gross Domestic Product?
With the economy in its current state, more and more people, individuals that have never taken an interest in the economy before, are tuning in to see what is going to happen and what has transpired throughout the American economy. People are starting to get as much information as they possibly can about how changes in the economy are affecting them, their families, jobs, investments and their savings accounts. One key indicator is the Gross Domestic Product which is basically a measure of all the goods and services that have been produced in the United States or any country for that matter, within a given year. The reason why this is such a valuable tool is because it helps to determine if we are in a recession or not and if the economy is growing or contracting. The GDP is also a good measurement tool to determine the fiscal health of a nation. Now to determine the actual Gross Domestic Product you have to take into consideration all of the private and government spending, as well as
