The fact is that gdp is a function of individual decisions. The economy is the production of goods and services so it doesn’t have to take off on its own. It also has to be carefully designed to ensure that the goods and services are delivered by a professional.
So how is it that we all measure the total production of the economy and yet we choose to measure an individual’s gdp in terms of a country’s GDP? That’s because we think GDP is the best metric for measuring something that takes a few seconds to do, like the total output of a manufacturing firm.
The problem is that we use GDP to measure things like the total output of a firm. Thats the best method for measuring an individual firm because it takes no time to do.
The problem is that we’re measuring GDP for a firm that has multiple locations, so we get a value for each location. Thats why we call it a “countrys GDP”. In reality, the US, UK, and other nations have multiple “countries”. It takes a whole lot of time to go out and measure the total output of all those countries, so we use GDP to measure the total output of the economy.
Its a little bit like saying “how many inches tall is a man?” You can’t really measure a man unless you know the height of his feet. It is the same with GDP. You really can’t measure GDP unless you know the total output of all the countries in the world.
GDP is just a countrys GDP. The way it works is if you have more than one country, you put them all in a list. Then you take the top two and the top three. The rest of the list is put in the bottom two and the bottom three. Then you add the top two and the top three. Then you add the bottom two and the bottom three. That is how we use GDP, but it is not equal to how many people you have.
That is exactly how economists measure the economy. It is only a guess of how many people there are to make a product, then its a guess of how many people you have. In the USA, you have a guess of how many people you have. That is GDP. The rest of the world has a guess and then we can adjust it to account for population.
GDP is a great measure of the economy, but a terrible measure of the economy. The reason is that GDP can only account for what can be manufactured at a given point in time. Because GDP is based on the total amount of work in the economy, it will only account for the total output of the economy at a given point in time.
GDP is based on the total amount of labor and the total output of labor. If you have to work more hours than you think you do, the problem is not with the labor, the problem is with the work. If you are not working less than you think you are, the problem is with the work. It is actually quite the reverse. The amount of labor you have determines how much you are working; the amount of work determines how much you are working.