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Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?
- a)Simon Kuznets
- b)Max O Lorenz
- c)John Maynard Keynes
- d)Ernst Engel
Correct answer is option 'A'. Can you explain this answer?
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Which one of the following economists firstly introduced gross Domesti...
Simon Kuznets firstly introduced gross Domestic Product.
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Which one of the following economists firstly introduced gross Domesti...
Simon Kuznets
Simon Kuznets, an American economist, was the first to introduce Gross Domestic Product (GDP) as a measure of the economic growth of a country. His work on national income accounting and GDP earned him the Nobel Prize in Economics in 1971.
Introduction of GDP
Kuznets developed the concept of GDP in the 1930s as a way to measure the total economic output of a country. He believed that GDP could provide a more comprehensive and accurate picture of a country's economic performance than other measures.
Significance of GDP
GDP has since become a widely used indicator of a country's economic health and growth. It helps policymakers, economists, and investors to understand the overall economic activity of a nation, including its production, consumption, and investment levels.
Legacy of Kuznets
Kuznets' work on GDP laid the foundation for modern macroeconomic analysis and has had a lasting impact on the field of economics. His pioneering efforts in developing this important measure have shaped the way we assess and understand economic growth to this day.
Simon Kuznets, an American economist, was the first to introduce Gross Domestic Product (GDP) as a measure of the economic growth of a country. His work on national income accounting and GDP earned him the Nobel Prize in Economics in 1971.
Introduction of GDP
Kuznets developed the concept of GDP in the 1930s as a way to measure the total economic output of a country. He believed that GDP could provide a more comprehensive and accurate picture of a country's economic performance than other measures.
Significance of GDP
GDP has since become a widely used indicator of a country's economic health and growth. It helps policymakers, economists, and investors to understand the overall economic activity of a nation, including its production, consumption, and investment levels.
Legacy of Kuznets
Kuznets' work on GDP laid the foundation for modern macroeconomic analysis and has had a lasting impact on the field of economics. His pioneering efforts in developing this important measure have shaped the way we assess and understand economic growth to this day.
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Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?a)Simon Kuznetsb)Max O Lorenzc)John Maynard Keynesd)Ernst EngelCorrect answer is option 'A'. Can you explain this answer?
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Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?a)Simon Kuznetsb)Max O Lorenzc)John Maynard Keynesd)Ernst EngelCorrect answer is option 'A'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?a)Simon Kuznetsb)Max O Lorenzc)John Maynard Keynesd)Ernst EngelCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?a)Simon Kuznetsb)Max O Lorenzc)John Maynard Keynesd)Ernst EngelCorrect answer is option 'A'. Can you explain this answer?.
Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?a)Simon Kuznetsb)Max O Lorenzc)John Maynard Keynesd)Ernst EngelCorrect answer is option 'A'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?a)Simon Kuznetsb)Max O Lorenzc)John Maynard Keynesd)Ernst EngelCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which one of the following economists firstly introduced gross Domestic Product to measure the economic growth of a country?a)Simon Kuznetsb)Max O Lorenzc)John Maynard Keynesd)Ernst EngelCorrect answer is option 'A'. Can you explain this answer?.
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