Blogonomics

Because GDP is a critical measure of economic growth in the United States, I like to start every term discussing GDP with my students. Gross Domestic Product, or GDP, has many limitations. It doesn’t tell us about unemployment or productivity, or whether economic growth will be sustainable over time. However, it tells us about consumer spending, private business investment, government spending, and net trade. Therefore, GDP is an important measure of economic performance and one of several economic indicators driv