What are some of the reasons that U.S. GDP is so much higher than it is...
What are some of the reasons that U.S. GDP is so much higher than it is in other countries?
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Homework Answers
Answer:
GDP (gross domestic product) is the value of all goods and services produced with in a country in a period of time. the GDP of a country shows the growth of the economy of a country. U.S. has the highest GDP as compare to other countries and the reasons are higher productivity and the efficient utilization of labor force and other resources. the higher level of investment, consumption and the government expenditure which increases its total output. the value of other currencies is measured in terms of dollar so the value of dollar is more stronger than the other currencies which is beneficial for the foreign trade of the economy.
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