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What purposes does the gross domestic product serve?
EncofBizandFinance
Gross Domestic Product (GDP) measures the value of all finalized goods and services of a country within its geographical border over a period of time.
It allows for:
-Historical comparison: If the country is producing more goods than it did before
-International comparison: Compare how the economy is doing with respect to other economies
-Identify booms and recession and the business cycles.
-As a political tools
-Measured alongside with Human Development Index to see the proportion of GDP with increase (decrease) of HDI.
Wiki User
∙ 13y ago
kaoru
if anyone is here for apex then the answer is, a measure of a country's total economic output. it was right for me at least :)
Wiki User
∙ 13y agoBankers, investment brokers, and government officials use the GDP to determine such things as interest rates, investment opportunities, and tax rates
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