What nominal GDP did Hawaii’s September 2026 outlook report for 2024?
Correct answer(s):
- About $117.627 billion
Subject
U.S. Economy
Practice related MCQ quizzes and improve step by step.
Practice by Education Level
Quizzes in U.S. Economy
Approximately how much did Hawaii’s nominal GDP increase between 2024 and 2025 in the September 2026 DBEDT series?
Correct answer(s):
- $6.98 billion
What did Hawaii’s September 2026 DBEDT outlook report as real GDP for 2025 in chained 2017 dollars?
Correct answer(s):
- About $94.144 billion
What was Hawaii’s reported real GDP growth rate in 2025 in the September 2026 outlook?
Correct answer(s):
- 2.5%
How should Hawaii’s projected 1.3% real GDP growth for 2026 be labeled?
Correct answer(s):
- A forecast, not a completed-year outcome
Which statement is valid when reporting a forecast for a year that has not ended?
Correct answer(s):
- Identify it as a projection with its issue date
Why are chained-dollar GDP figures used?
Correct answer(s):
- To compare output after accounting for price changes
Why should GDP per capita not be presented as average household income?
Correct answer(s):
- It measures output per resident, not actual household earnings
Why can geographically distant suppliers raise Hawaii’s business expenses?
Correct answer(s):
- Freight and inventory costs can be higher
Which industries can receive direct spending from tourists?
Correct answer(s):
- Accommodation, transportation, and restaurants
What is a likely immediate economic effect of a major air-travel disruption to Hawaii?
Correct answer(s):
- Reduced business for visitor-related services
What is the main advantage of an economically diversified state?
Correct answer(s):
- It has multiple sources of work and income
What does economic resilience describe?
Correct answer(s):
- Ability to withstand and recover from disruptions
Which combination constrains agricultural production in Hawaii?
Correct answer(s):
- Land, water, labor, and transport costs
Why is purchasing power different from nominal income?
Correct answer(s):
- High local prices can reduce what an income can buy
Why is GDP not simply the sum of all business sales?
Correct answer(s):
- It measures value added and avoids double counting intermediate transactions
Why is real GDP useful when comparing economic growth?
Correct answer(s):
- It adjusts for price changes
If Hawaii’s prices rise while physical production stays almost constant, what may increase?
Correct answer(s):
- Nominal GDP
How is GDP per capita calculated?
Correct answer(s):
- Total GDP divided by population
Why can a tourism downturn affect several industries at once?
Correct answer(s):
- Hotels, restaurants, transport, and retail depend partly on visitors