What Is Gross Domestic Product, What Are the Unfavorable Economic Policies In the Economy That Adversely Impact the GDP Growth Rate In the Economy, and How Implementing...
audiobook (Unabridged)
By Dr. Harrison Sachs
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This essay sheds light on what is gross domestic product, demystifies what are the unfavorable economic policies in the economy that adversely impact the GDP growth rate in the economy, and expounds upon how implementing favorable economic policies in the economy can increase the GDP growth rate in the economy. Succinctly stated, gross domestic product is "the total monetary value of all the products and services produced within a nation's borders in a specific time period", such as a time span of one year. The gross domestic product of an economy can be further amplified if the real private sector workforce in an economy is able to amplify the product production volume in an economy. The real private sector workforce in an economy has the latent potential to further amplify the product production volume. Even if the size of the real private sector workforce in an economy remains constant, the gross domestic product of an economy can nonetheless be further amplified if more companies in an economy harness artificial intelligence-powered technologies in their product manufacturing operations. Leveraging robust artificial intelligence-powered technologies, such as robust artificial intelligence-powered industrial robots and robust artificial intelligence-powered generative tools, can aid companies in being able to significantly amplify their product production output in an economy. Furthermore, leveraging robust artificial intelligence-powered technologies, such as robust artificial intelligence-powered industrial robots and robust artificial intelligence-powered generative tools, can also aid companies in being able to minimize their labor costs. The gross domestic product of an economy also can be further amplified if the real private sector workforce in an economy is able to amplify the service production volume in an economy. The real private sector workforce in an economy also has the latent potential to further amplify the service production volume.