ABSTRACT
In order to make good macroeconomic policy choices, we need to have reliable information on how the economy is performing. The metric that is most often cited to assess overall economic performance is Gross Domestic Product (GDP)—a measure of the total production level of a country over a certain time period. For example, the economy is said to be in a recession when its GDP decreases for two consecutive quarters. An increase in GDP, on the other hand, is viewed as a sign of a strengthening economy.
