The ________ is the most widely used indicator of economic growth in the world today.

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the most widely used indicator of economic growth because it measures the value of all goods and services produced within a country's borders during a certain time period. It provides a snapshot of a country's economic health and is used by policymakers, investors, and businesses to make decisions. Gross national product (GNP) measures the value of all goods and services produced by a country's citizens regardless of their location, and is less commonly used than GDP. Consumer price index (CPI) measures the change in prices of a basket of goods and services over time, and producer price index (PPI) measures the change in prices received by domestic producers of goods and services. While CPI and PPI are important indicators, they do not provide a comprehensive picture of a country's economic growth.

The ________ Is the Most Widely Used Indicator of Economic