In the nation of Ophelia, quarterly GDP is always higher in the second quarter than in other quarters. In order to account for this predictable jump in GDP, what will Ophelia's government statisticians most likely do?

Question

Quizplus · Accepted Answer

To account for the predictable jump in GDP during the second quarter, Ophelia's government statisticians will most likely make a seasonal adjustment to the second quarter data. This adjustment will help to smooth out the seasonal variation and provide a more accurate representation of the underlying trends in the economy. A seasonal adjustment is a common technique used to analyze economic data that exhibits predictable seasonal patterns, such as quarterly GDP in Ophelia.

In the Nation of Ophelia, Quarterly GDP Is Always Higher