Study Questions for Lecture 3

Study Questions for Lecture 3 - Questions for Lecture 3...

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Questions for Lecture 3 Questions based on material in A Guide to Everyday Economic Statistics--5 th Edition ( EES )--Chapter 2 (pages 15-27) 1. What is the schedule the Department of Commerce uses to release its estimates of GDP? How often are comprehensive revisions of GDP made? (pp. 18-19) 2. Who determines the official turning points of the business cycle? (p. 21) 3. When did the NBER announce that a recovery had begun in July 1990? Was the recession already over by this time? When did it announce that the 2001 recession had ended in November 2001. Explain. (p. 23) 4. Be able to write a short description about how GDP is measured. 5. Suppose the advance estimate of real GDP for the fourth quarter suggests that fourth quarter GDP grew faster than 3 rd quarter GDP. How often does an observation like this continue to hold after a comprehensive revision of the data? (p. 20) Questions based on Lecture 3. 1. Define GDP.
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Study Questions for Lecture 3 - Questions for Lecture 3...

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