Economics Economic Indicators Questions
The GNP growth rate refers to the percentage change in Gross National Product (GNP) over a specific period of time, usually a year. It is used as an economic indicator to measure the rate at which a country's economy is expanding or contracting. A positive GNP growth rate indicates economic growth, while a negative growth rate suggests economic contraction or recession. It helps policymakers, economists, and investors assess the overall health and performance of an economy, identify trends, and make informed decisions regarding fiscal and monetary policies, investments, and business strategies.