Chapter 6.1 part 2 Flashcards
What does the Census Bureau do every 10 years?
Survey of housing and residential finance for GDP.
What does the Census Bureau do to track investment?
A monthly survey of construction and an annual survey of expenditures on physical capital equipment for GDP.
Where does information on healthcare come from?
The Agency for Health Care Research and Quality for GDP estimates.
What do surveys of landlords find out?
Rental income for GDP estimates.
Who collects statistics on farming?
The Department of Agriculture for GDP estimates.
How do GDP estimates and things count for GDP arrive?
In different forms and different time intervals.
Who models GDP estimates?
Bureau of Economic Analysis to produce GDP estimates every 3 months.
How does the BEA annualize GDP estimates?
Take the 3 months estimates and multiply by 4.
What does the BEA do if more information on GDP comes in?
They revise previous estimates.
When does BEA release GDP ‘advance’ estimate?
For a certain 3 months one month after the 3 months.
What does the Census Bureau help us understand every decade?
What is produced for consumers for GDP.
What do statisticians rely on to find information on federal government purchases?
US Department of Treasury for GDP.
What does an annual Census of Governments gather information on?
State and local governments.
What does the government spend a considerable amount on at all levels?
Hiring people to provide services.
How does the government track a large portion of its spending?
Through payroll records that state governments and social security administration collects for GDP.
What does the Census Bureau compile on a monthly basis?
All import and export documents for GDP.
What are some additional surveys the Census Bureau covers?
Transportation, travel, and adjustments for financial services produced in the US for foreign consumers for GDP.
Where does information on energy come from?
US Department of Transportation and Department of Energy for GDP estimates.
When does BEA release preliminary estimate?
One month after the one month after 3 months.
