Using GDP in macroeconomics gives the advantage of easy calculation, because most GDP calculations use the same methodology and it correlates with development measures such as literacy levels. Disadvantages of using GDP ... More »

Countries with a mixed economy include Iceland, Sweden, France, the United Kingdom, the United States, Russia and China. These countries have a mix of government spending and free-market systems based on the share of gov... More »

GDP, or Gross Domestic Product, is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period. It includes all private and public consumption, investments and ... More »

There are many different things that affect the GDP, or gross domestic product, including interest rates, asset prices, wages, consumer confidence, infrastructure investment and even weather or political instability. All... More »

GDP is important because it is a leading indicator of a country's economic health. It gives economists an idea of the nation's financial viability. More »

Nominal GDP is a measure of the Gross Domestic Product in absolute terms, while real GDP is a measure that factors in the rate of inflation. More »

The main of advantage of free trade is lower prices for consumers, while a disadvantage is that domestic firms often find it difficult to compete with large international firms. More »