5. When comparing 2 economies, the numerical value of the GDP tells us more than the...
5. When comparing 2 economies, the numerical value of the GDP tells us more than the growth rate in GDP.
True or False?
Homework Answers
True
GDP is the production of final goods and services within the boundary of a country in a financial year
GDP growth rate is the percentage growth of GDP between two consecutive years
It is very right to compare any two economies by comparing the numerical value of GDP because it gives their current situation in terms of production of final goods and services
Growth rate just tells about that how economy has grown from last year
It does not give a comparison value between two economics
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