If a country’s nominal GDP is growing at 4.4% annually, annual inflation is running at 2.3%, and the population growth rate is 0.5%, 1.6% is the growth rate of real per capita GDP
A comprehensive measure of US economic activity. GDP measures the value of final goods and services produced in the United States (intermediate goods and services used in that production are not counted twice).
Steal the key. GDP can be calculated by summing all consumer, business, and government spending over a period of time. It can also be calculated by summing all funds received from all participants in the economy. In both cases, the numbers are estimates of "nominal GDP".
When GDP increases, the economy is in good shape and the country moves forward. On the other hand, if the gross domestic product falls, the economy will struggle and the country could lose its footing. A recession is usually defined as two consecutive quarters of negative GDP.
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