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It's estimated via a model. We don't actually know the value of all economic activities happening in the country. We just have statisticians survey some fractio
by gruez 2y ago
It's estimated via a model. We don't actually know the value of all economic activities happening in the country. We just have statisticians survey some fraction of businesses on how they're doing, and plug those result into a model to estimate how the entire country's doing.
- JumpCrisscross 2y ago> It's estimated via a model So is every physical constant. The gravitational constant is a metric. We then measure it by way of models. GDP isn’t a model per se. GDPNow is.