GDP Concepts

Which option accurately explains Delaware’s real GDP?

• Real GDP ignores price changes completely so output can be compared across years
• Real GDP is a population count rather than an output measure so output can be compared across years
• Real GDP measures only current market prices so output can be compared across years
• Real GDP adjusts for changes in price levels so output can be compared across years

What is the correct interpretation of GDP contribution and employment?

• A large industry’s GDP contribution always means it employs the largest number of workers
• A large industry’s GDP contribution proves it has the smallest workforce
• A large industry’s GDP contribution means employment data are unnecessary
• A large industry’s GDP contribution does not automatically mean it employs the largest number of workers

Which fact best describes Delaware’s current-dollar GDP?

• current-dollar GDP measures only land area
• Current-dollar GDP measures output at prices from the period being measured
• current-dollar GDP measures population rather than output
• current-dollar GDP always removes all price changes