Business, 13.09.2021 21:10 erniewernie

According to the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the first quarter of 2018. This contrasts with the fourth quarter of 2017, when real GDP increased by 2.9 percent. According to the Bureau of Labor Statistics (BLS), the consumer price index (CPI) increased by 2.1 percent in 2017. This is the same as the rate of price inflation observed in 2016. The BLS also reports that the unemployment rate for April of 2018 fell to 3.9%, which is the lowest rate of unemployment since December of 2000. Use these data about the recent performance of the U. S. economy to classify each of the following statements as true or false.
1. In early 2018, real output in the economy rose, while unemployment declined.
a. true
b. false2. Growth of real output slowed between the last quarter of 2017 and the first quarter of of 2018.
a. trueb. false3. The low employment rate of early 2018 could have resulted from many discouraged workers leaving the labor force.
a. trueb. false4. The prices of all domestic products and services rose in 2017.
a. trueb. false

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According to the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at a...

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