Tracking Real GDP

Why is Tracking Real GDP Important? Real GDP is important because it is highly correlated with other measures of economic activity, like employment and unemployment. When real GDP rises, so does employment.The most significant human problem associated with recessions...

Double Counting GDP

What is the Problem of Double Counting GDP?We define GDP as the current value of all final goods and services produced in a nation in a year. Final goods are goods at the furthest stage of production at the end of a year. Statisticians who calculate GDP must avoid the...