In order to estimate the current annual GDP, economists:
A) multiply the quarterly estimate by four.
B) adjust quarterly GDP estimates to account for seasonal patterns.
C) take an average of the last four quarters measured.
D) adjust GDP for changes in price level.

Question

Quizplus · Accepted Answer

Quarterly GDP estimates can be affected by seasonal patterns, such as increased consumer spending during the holiday season. As a result, economists adjust these estimates to provide a more accurate representation of the current annual GDP.

In Order to Estimate the Current Annual GDP, Economists