Question

What does it mean to measure a government's deficit "relative to the size of the economy"? to compare the size of the deficit to productivity to compare the size of the deficit to the unemployment rate to measure the deficit as a percentage of the economy or GDP to measure the deficit as a percentage of tax revenues

Answer 1

I would say the answer would be to measure the size of the deficit as a percentage of the economy or GDP. The GDP is the annual total value of goods produced and services provided in an economy to place the deficit in the right perspective of the economic performance overall.

Answer 2

What it means is to to measure the deficit as a percentage of the economy or GDP

What is GDP?

The Acronym GDP means Gross Domestic Product, it is defined as the sum total of all finished goods and services that a country can complete and close over a specific perios in time.

In summary, GDP is the monetary value of final goods and services.

Learn more about GDP here:

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