Question

How do you think GDP is estimated and how do you use it for the development of the country ?​

Answer 1

Answer:

Gross domestic product tracks the health of a country's economy. It represents the value of all goods and services produced over a specific time period within a country's borders. Economists can use GDP to determine whether an economy is growing or experiencing a recession.

Answer 2

Explanation:

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period.[2][3]GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market.