when economists determine that a nation’s gdp has declined, they can point to this as a sign of economic shrinkage. economic growth. low unemployment. poor leadership.
When economists determine that a nation’s GDP has declined, they can point to this as a sign of economic shrinkage. economic growth. low unemployment. poor leadership.
Answer: When economists observe a decrease in a nation’s GDP (Gross Domestic Product), it is considered a sign of economic shrinkage. GDP reflects the total value of all goods and services produced in a country within a specific period. A decline in GDP indicates that the country’s overall economic output has reduced. This could be due to factors such as decreased consumer spending, reduced investments, or a drop in exports. Therefore, a decreased GDP generally signifies economic contraction or shrinkage.