Understanding GDP: Its Role, Measurement, and Impact on Economic Growth and Policy

Introduction

Gross Domestic Product (GDP) serves as a fundamental indicator of a nation’s economic health, reflecting the total monetary value of all goods and services produced over a specific time period. This report aims to explore the role of GDP in economic assessments, its methodologies of measurement, and its implications for economic growth and policy-making. Understanding GDP is crucial, as it informs policymakers, economists, and the pu