It details whether the economy is expanding, contracting, or remaining stable is the way GDP is an important economic measurement.
What does GDP tell us about the economy?
GDP tells us about the size and health of an economy, is significant. Real GDP growth is frequently employed as a proxy for the state of the economy as a whole. Real GDP growth is typically regarded as a sign that the economy is doing well.
Every year, the United States calculates its gross domestic product (GDP), which includes all goods and services produced domestically. According to GDP, the economy is either growing by producing more goods and services or contracting by producing fewer goods and services when compared to prior times.
Thus, It details whether the economy is expanding, contracting, or remaining stable.
For more details about GDP tell us about the economy, click here:
https://brainly.com/question/15229201
#SPJ2
