Which option gives the most accurate fact about Revision in New York State?

  • Current-dollar GDP can rise because of higher prices as well as higher production, while real GDP adjusts for price changes.
  • GDP per resident is not equivalent to average wages, household income, or personal income.
  • 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.