GDP

What does real GDP growth mean for you and me?

GDP is growth is the amount of revenue a country makes based on the production and consumption of goods. It is important to understand that the GDP growth can grow through the degradation of the environment  so in some cases when GDP goes up it does not necessarily mean that your life is better. A growth in GDP makes people more confident in the government, but it does not show the feelings that they have for their overall wealth. It is important to understand that GDP does not take into consideration the unemployment rate, the size of the government, or the feeling that people have towards their life, rather it helps us understand how efficient and productive our economy is.