Jennifer Hunt

1 month ago | econofact.org | Gabriel DeLuca Vinocur |Michael Klein |Nora Gordon |Jennifer Hunt

Gross domestic product is most accurate when it accounts for all of a country’s economic output, including that facilitated by government spending. GDP measures the dollar value of all the goods and services produced in a country and consumed by end users in a given period of time. Government spending funds a significant amount of the economy’s production, including national defense, infrastructure, education, health care, policing, and firefighting.