ECONOMICS
BUSINESS CYCLES
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
the higher the voter turnout
|
|
the better the school systems
|
|
the worse the economy is
|
|
the stronger the economy
|
Detailed explanation-1: -Economists traditionally use gross domestic product (GDP) to measure economic progress. If GDP is rising, the economy is in solid shape, and the nation is moving forward. On the other hand, if gross domestic product is falling, the economy might be in trouble, and the nation is losing ground.
Detailed explanation-2: -Higher Gross Domestic Product (GDP) means greater per capita availability of goods in the economy.
Detailed explanation-3: -Sustained economic growth increases average incomes and is strongly linked to poverty reduction. GDP per capita provides a basic measure of the value of output per person, which is an indirect indicator of per capita income. Growth in GDP and GDP per capita are considered broad measures of economic growth.
Detailed explanation-4: -GDP matters because it shows how healthy the economy is Rising GDP means the economy is growing, and the resources available to people in the country – goods and services, wages and profits – are increasing.
Detailed explanation-5: -What Is a Simple Definition of GDP? Gross domestic product is a measurement that seeks to capture a country’s economic output. Countries with larger GDPs will have a greater amount of goods and services generated within them, and will generally have a higher standard of living.