Current-Dollar GDP

Which statement is accurate for a lesson on New York’s Current-Dollar GDP?

• Current-dollar GDP measures production at prevailing prices and therefore combines quantity and price effects.
• Real GDP uses chained-dollar methods to estimate changes in production while reducing the effect of price changes.
• 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.
• GDP per resident can support productivity or scale comparisons but is not a measure of median living standards.