Question

write the importance of domestic products.​

Answer 1

Answer:

GDP is important because it gives information about the size of the economy and how an economy is performing. The growth rate of real GDP is often used as an indicator of the general health of the economy.

Answer 2

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Importance of domestic products:

• enables policymakers and central banks to judge whether the economy is contracting or expanding and promptly take necessary action.

• allows policymakers, economists, and businesses to analyze the impact of variables such as monetary and fiscal policy, economic shocks, and tax and spending plans.