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  • 19-05-2021
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3. Why did the United States start focusing on gross domestic product instead of gross national product?

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barnejul
barnejul barnejul
  • 19-05-2021

Answer:

GDP is an important figure because it gives an idea of whether the economy is growing or contracting. The United States uses GDP as its key economic metric and has since 1991; it replaced GNP to measure economic activity because GDP was the most common measure used internationally.

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