If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion.

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Himanshu Dahiya · Accepted Answer

Final Answer : True, Explanation :  The GDP reported at an annual rate means it's the amount the economy would produce or the total income and expenditure in a year if it continued at the same rate as in the third quarter. Therefore, to find the actual GDP for just the third quarter, you divide the annual rate by 4 (since there are 4 quarters in a year), resulting in $4 trillion for the third quarter.

If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion.

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