National Accounts

Which statement best summarizes industry-share GDP comparisons?

• Industry shares of GDP should be calculated using values from the a population count and a land-area figure
• Industry shares of GDP should be calculated using values from the different years and mixed price bases
• Industry shares of GDP should be calculated using values from the same year and the same nominal or real basis
• Industry shares of GDP should be calculated using values from the no year information at all

Which description of Delaware’s current-dollar GDP is accurate?

• Current-dollar GDP and real GDP use methods used only for counting population and should not be treated as interchangeable measures
• Current-dollar GDP and real GDP use different valuation methods and should not be treated as interchangeable measures
• Current-dollar GDP and real GDP use methods that both ignore prices and should not be treated as interchangeable measures
• Current-dollar GDP and real GDP use the same valuation method and should not be treated as interchangeable measures

Which fact best describes chained-dollar GDP?

• Chained-dollar GDP is designed to measure population growth rather than reporting current market values
• Chained-dollar GDP is designed to measure land area rather than reporting current market values
• Chained-dollar GDP is designed for comparing changes in real output over time rather than reporting current market values
• Chained-dollar GDP is designed only to report current market prices rather than reporting current market values

Which option accurately explains annualized quarterly GDP growth?

• An annualized quarterly GDP growth rate can always be substituted for annual GDP without adjustment
• An annualized quarterly GDP growth rate is not the same measure as total GDP for a calendar year
• An annualized quarterly GDP growth rate is exactly the same as annual GDP
• An annualized quarterly GDP growth rate is a population estimate rather than a GDP measure