Which statement gives the clearest accurate account of Quarterly Annualization?

• A seasonally adjusted annual rate scales a quarter’s pace to an annual rate rather than reporting literal one-quarter production.
• Current-dollar GDP can rise because of higher prices as well as higher production, while real GDP adjusts for price changes.
• State GDP rankings should compare the same year, same metric, and same data release.
• BEA state GDP data are subject to revision when newer source data become available.