Quarterly GDP:
A. is always shown as a seasonally adjusted estimate for an annual rate.
B. takes account of unpredictable seasonal patterns in order to guess at annual GDP.
C. is adjusted for predictable, seasonal variation to predict what GDP would be if the economy continues at its current pace.
D. is the only representation of GDP that economists view as credible.
C. is adjusted for predictable, seasonal variation to predict what GDP would be if the economy continues at its current pace.
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What is the internal rate of return on a new $2,000 heater that would reduce your heating costs by $200 a year forever? Under what conditions would you make the purchase?
What will be an ideal response?
Answer the following statement true (T) or false (F)
1) In the absence of enforceable property rights, there is little incentive to preserve resources for future use. 2) Granting property rights to forest land tends to increase the rate at which the land is deforested. 3) A fishery is a stock of fish or other marine animal thought of as a logically distinct group, and usually identified by its location and species. 4) Fish in the open ocean are protected by strong property rights.
Suppose a perfectly competitive market is in long-run equilibrium and then there is a permanent increase in the demand for that product. The new long-run equilibrium will have
A) fewer firms in the market. B) more firms in the market. C) the same number of firms in the market. D) probably a different number of firms, but it is not possible to determine if there will be more or fewer firms. E) a permanent decrease in supply.
Starting with an exchange rate of $1 = ¥110, and a price tag of ¥5,000 for a Japanese good, what happens to the dollar price of the good if the yen depreciates by 4 percent?
A) the dollar price of the good rises from $45.45 to $47.72 B) the dollar price of the good falls from $45.45 to $43.64 C) the dollar price of the good falls from $550,000 to $522,500 D) the dollar price of the good rises from $550,000 to $577,500 E) ?the dollar price of the good rises falls from $450 to $427.50