Why is tracking GDP a good way to evaluate the impact of governmental decisions on society?(1 point) Responses The GDP can help track the stability of prices. The GDP can help track the stability of prices. The GDP can help track changes in employment. The GDP can help track changes in employment. The GDP is a marketplace in which stocks are bought and sold. The GDP is a marketplace in which stocks are bought and sold. The GDP can help measure the total production of goods and services around the world. The GDP can help measure the total production of goods and services around the world.
One point for why tracking GDP is a good way to evaluate the impact of governmental decisions on society is that it can help measure the total production of goods and services around the world. GDP is a comprehensive measure that takes into account the value of all goods and services produced in an economy within a specific time period. By tracking GDP, policymakers can assess the effectiveness of governmental decisions in promoting economic growth and development. For example, if GDP shows an increase, it suggests that government policies have been successful in stimulating economic activity and improving the standard of living for individuals in society. Conversely, a decrease in GDP may indicate that government decisions have had a negative impact on the economy and need to be reassessed. Therefore, tracking GDP provides policymakers with valuable information to evaluate the impact of their decisions and make necessary adjustments to promote economic well-being.
