Using real GDP data without seasonal adjustment, a student said, “The US real GDP declined by 3% in Quarter 1 from Quarter 4 last year. It falls by 3% in just one quarter! It must be a serious recession.” Critically comment on this statement.

Using real GDP data without seasonal adjustment, a student said, “The US real GDP declined by 3% in Quarter 1 from Quarter 4 last year. It falls by 3% in just one quarter! It must be a serious recession.” Critically comment on this statement.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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