In Order to Estimate the Current Annual GDP,economists

question 139

Multiple Choice

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)None of these statements is correct.

---

Definitions:

Truman Doctrine

was a U.S. foreign policy strategy announced in 1947, aimed at containing communism by providing military and economic aid to countries threatened by Soviet forces.

Tax Increase

A rise in the percentage of income, sales, or assets that individuals or businesses must pay to the government.

Government Reorganization

The process of restructuring the operations and structure of governmental bodies to improve efficiency and effectiveness.

Defence Spending

Refers to the allocation of government funds specifically for military and defense purposes.