Question

Reflect upon how an economy is measured then explain important aspects that are not addressed in the statistics.​

Answer 1

GDP, PPP, Income status and standards of living.

Step-by-step explanation:

• The economy of a nation is measured in terms of the Gross Domestic Production and that states the values of all goods and services in the nation in that given year.

• Other measures like the PPP and power to purchase that are seen by the income levels, measures like the standards of living and investment along with the expenditures of government.