According to economists, why is it useful to measure the behaviour of the economy with statistics such as GDP?
A) It can be used to forecast economic recessions and prevent them.
B) It measures the total value of a country's wealth.
C) It can be helpful in developing macroeconomic science, but is not useful for policymaking.
D) It is a crucial step toward developing the science of macroeconomics.

Question

Quizplus · Accepted Answer

Measuring the behaviour of the economy with statistics such as GDP is a crucial step toward developing the science of macroeconomics. It helps economists understand how the economy is performing, identify trends, and develop policies to address problems such as inflation, unemployment, and economic growth. While it may not be the only tool for policymaking, it is a useful and important one.

According to Economists, Why Is It Useful to Measure the Behaviour