What is GDP and how can we enhance our GDP?

Question

What is GDP and how can we enhance our GDP?

Answer 1

Gross Domestic Product is the total of all services and goods produced in the country. This means all the taxes and everyone's income inside the country legally reported to the revenue agency inside that country is GDP.

Increasing GDP is difficult, to say the least. I mean, the fed can say "what was a dollar yesterday is ten dollars today" and GDP, numerically, goes up tenfold. But this doesn't really do anything, as people will spend more and get higher wages to keep up with this sudden spike in inflation and all it will do is lower the dollar's value because it can buy less compared to other currencies.

There is also GNP (Gross National Product) , very similar but slightly different. GDP is the sum of all the goods and services produced by the CITIZENS of a country. Meaning, an American working in France will be included in the American GNP count, not the French count.

GDP and GNP can be increased by improving the economy so that there is no deficit to say the least and there is a constant stream of revenue. It is very international-based, however, and increasing the true VALUE of GDP/GNP against other currencies will require international trading and importing/exporting goods.

Answer 2

gross domestic product

we can increase it by exporting more

Answer 3

first off......who are you?