Dakota Wensley
Bus 101
Gross domestic product (GDP) is a measure of the value of all the goods and services produced in one year in a country. It can be determined by taking the total sum of how much people have spent over a given period or conversely by taking the sum of how much people have earned, both produce the same amount. The former is a lot more common and it can be determined by taking the sum of total consumption, government spending, investments, and net exports (GDP=C+I+G+(X-M). GDP is one of the best tools for determining how a country is doing now, where it has been, and its growth can tell a lot about where it is headed. The Federal Reserve uses real GDP to influence its decisions on money supply and interest rates, Businesses
Bus 101
Gross domestic product (GDP) is a measure of the value of all the goods and services produced in one year in a country. It can be determined by taking the total sum of how much people have spent over a given period or conversely by taking the sum of how much people have earned, both produce the same amount. The former is a lot more common and it can be determined by taking the sum of total consumption, government spending, investments, and net exports (GDP=C+I+G+(X-M). GDP is one of the best tools for determining how a country is doing now, where it has been, and its growth can tell a lot about where it is headed. The Federal Reserve uses real GDP to influence its decisions on money supply and interest rates, Businesses