Which choice best reflects New York State’s Ranking Comparability?

• Real GDP uses chained-dollar methods to estimate changes in production while reducing the effect of price changes.
• State GDP rankings require consistent metric definitions, periods, and releases because nominal, real, annual, and quarterly series answer different questions.
• The approximately 2.9% increase in New York real GDP from 2024 to 2025 should be described as growth in inflation-adjusted output, not income growth.
• A seasonally adjusted annual rate expresses a quarter’s pace as if sustained for a year and should not be read as literal quarterly production.