What government agency provided this GDP report?

a.

Bureau of Economic Analysis (BEA)

b.

Bureau of Labor Statistics (BLS)

c.

Federal Reserve Bank

d.

Congressional Budget Office (CBO)

Q 2

What time period does this GDP report cover? (1st, 2nd3rd, or 4thquarter? and of what year?) 

Question3

Which report is this: advanced (first) estimate, second estimate, or third estimate? 

Question4

According to the report, what was the U.S. economic growth rate over this time period (express as a %)?

Question5

Is the growth reported based on nominal GDP or Real GDP?

a.

Real GDP

b.

Nominal GDP

Question6

For reference, take a look at the growth rate each quarter since the recession in 1982 here:https://fred.stlouisfed.org/graph/?g=14G6I. The blue line shows the real growth rate each quarter, and the red line shows the average growth rate since 1982, which I calculated to be 2.8%. Based on this data, which do you conclude happened to our economy this past quarter?

• it contracted (shrunk)
• it experienced growth, but slower than our long-term average
• it experienced growth equal to our long-term average
• it experienced growth faster than our long-term average.

Question7

Consider the GDP splits; C, I, G, NX. What does the report say were the main contributors to the observed change in GDP? (tip look in the paragraph section right under the first graph)

Question8

What do you take away from this report? How does this information affect your personal expectations of the economy, job prospects, risk levels, and your income earning potential within it, for the near future? Feel free to write your answer from the perspective of whatever role you want - worker, entrepreneur, investor, etc. 

Answer rating: 100% (QA)

The GDP report was provided by a Bureau of Economic Analysis BEA The time period covered by this GDP ... View the full answer