GDP Growth & Recessions

The overall economic indicator for the economy is GDP, or Gross Domestic Product. Find out the components of GDP, and why the economy's growth rate is so important.
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Title reads: "Five ways to measure the U.S. economy"Image shows 5 icons with corresponding captions. The icons are a dollar bill and a few coins, a percentage sign over an zig-zagging, increasing arrow, a small house with a heart in it, a coin with a red arrow pointing downward, and a person with a ball and chain attached at the ankle and the ball has a dollar sign on it. The following captions are in the order of the icons just listed and correspond to them: "U.S. Nominal GDP: Measures economic output of the entire country. GDP Growth Rate: Measures year-over-year percent increase of economic output. GDP Per Capita: Estimates standard of living. Real GDP: Nominal GDP without inflation. Debt to GDP Ration: Determines whether annual income can pay off debt"
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what is the GDP growth rate? Indicates how quickly the economy is growing or shrinking. Has four components: personal consumption, business investment, government spending, and net trade. Shows where the economy is within the business cycle. Real GDP adjusts for inflation
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