That’s inflation, and the GDP figured you typically see account for it. “Real” GDP accounts for inflation, and so the Real GDP of your hypothetical country would be completely unchanged.
Except, of course, that in doing this they would create all sort of financial chaos and uncertainty and cause their Real GDP to *plummet*.
On the short run – until total adoption – it’d cause a great amount of economical damage.
After some time it’d just deflate the value of currency tenfold first, but assumably it’d not stop there, since nobody would know what’s the cause of this, and there you’d have the infamous hyperinflation, basically meaning you’ve just destroyed everything at that point.
because it would effectively change nothing, you just inflated your economy by 10x but because GDP accounts for inflation unless your internal economy also grown by 10x(it won’t) people just buy from foreign nations at less than 10x cost.
this would in turn put quite a few companies out of business if they ran in this inflated economy.
so at the end if anything doing that woudl cause GDP to Plummet due to the chaos it would induce
What happens to deposits? If you revalue all the money in banks by 10X, then you’ve devalued your currency and measures of your GDP won’t change.
This more often operates in the other direction, currencies are reduced by something like 1000 to compensate for past inflation. For example, Zimbabwe revalued their currency in 2019.
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