Answered

Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Join our Q&A platform to connect with experts dedicated to providing precise answers to your questions in different areas. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

How does studying the U.S. gross domestic product help economists learn about the economic behavior of the United States as a whole?

Sagot :

juhipatel

Answer:

GDP is measured by taking the quantities of all goods and services produced, multiplying them by their prices, and summing the total. GDP can be measured either by the sum of what is purchased in the economy or by what is produced. Demand can be divided into consumption, investment, government, exports, and imports.

The business cycle model shows how a nation's real GDP fluctuates over time, going through phases as aggregate output increases and decreases. Over the long-run, the business cycle shows a steady increase in potential output in a growing economy.

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.