What are indicators?

Explain the concept of Gross Domestic Product (GDP)

a) How do we measure GDP?

b) What are the main components of GDP and how are they calculated?

c) How does the underground economy affect GDP?

d) What are some of the limitations of using GDP as a measure of a country's economic well-being?

e) What is the difference between nominal GDP and real GDP, and why is the latter considered a better meas