When economists measure a country’s development, the most important factor they study is its __

Gross Domestic Product (GDP)

GDP is the sum of all final goods and services produced by a country, state, or city, usually within a year. All countries calculate their GDP in their respective currencies.

The final goods and services that make up GDP are measured in the price at which they reach the consumer. Thus, they also take into consideration the taxes on the traded products.

GDP is not the total wealth existing in a country. This is a very common misconception because it gives the impression that GDP would be a stock of value that exists in the economy as a kind of national treasure.

the act of deciding on matters of the economy. economic decision making is routinely conducted by finance ministers, economic advisors, heads of major central banks and business leaders and can have profound effects on a major economy.

abraham lincoln issued the preliminary emancipation proclamation on september 22nd, 1862. it stipulated that if the southern states did not cease their rebellion by january 1st, 1863, then proclamation would go into effect.