ECONOMICS
ECONOMIC GROWTH
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
fortnight
|
|
|
quarter
|
|
|
year
|
|
|
none of the above
|
Detailed explanation-1: -Economists use many different methods to measure how fast the economy is growing. The most common way to measure the economy is real gross domestic product, or real GDP. GDP is the total value of everything-goods and services-produced in our economy.
Detailed explanation-2: -The gross domestic product (GDP) growth rate measures how rapidly the economy is growing or shrinking. It compares the most recent quarter of the country’s economic output to the previous quarter.
Detailed explanation-3: -While there are a number of different ways to measure economic growth, the best-known and most frequently tracked and reported measure is gross domestic product (GDP).
Detailed explanation-4: -Forecast 4.6% Previous 6.3% Latest Release Feb 28, 2023. Source Ministry of Statistics and Programme Implementation. Gross Domestic Product (GDP) gauges the inflation-adjusted value of all goods and services produced within the economy.