Question

do you think GDP is a good indictator of strength of the us economy?

Answer 1

Generally, US GDP is considered as its economic prosperity indicator. US is world largest economy and world economies are dependent on it. GDP shows the production of goods and services during the accounting year. But GDP is not always good indicator of economic prosperity:

• It does not account for rise in population
• it does not speak about the income inequalities
• it does not account for rising global warming and increase global temperature.

US GDP is good indicator of its economic strength, but we must also consider the level of innovation, research and development. Because investment in innovation and research is key to future economic growth