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GDP by state is the state counterpart of the nation's gross domestic product, the Bureau's featured and most comprehensive measure of U.S. economic activity. did not. 200 qts. honey) = \end{array} & \begin{array}{c} Quarter-to-quarter dollar changes are differences between published estimates. 2.) Explain. To the extent that a state's output is produced and sold in national markets at relatively uniform prices (or sold locally at national prices), real GDP by state captures the differences across states that reflect the relative differences in the mix of goods and services that the states produce. The chain-type index formula that is used in the national accounts is then used to calculate the values of total real GDP by state and real GDP by state at more aggregated industry levels. What are the main components of measuring GDP with what is produced? the District of Columbia had the highest per-capita GSP. With transfer payments, GDP by state statistics provide a framework for analyzing current economic conditions in each state and can serve as a basis for decisionmaking. 2000) How the high-stakes wrangling over the monetary cliff gets ongoing, we though it might breathe the order second to remind everybody just how and United States managed the suit to world's biggest debtor. - In 1990, the GDP deflator is 100. Finance and insurance was the leading contributor to the increase in Tennessee, the state with largest increase (table 5). Quantity indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). I'll be right, we're doing that. Therefore, the GDP deflator is $\frac{1,200}{3,000} \times 100 = 40$. (in current Fill in the blanks: Real GDP (in 2000 dollars) Nominal GDP GDP Deflator (base year 2000) (in current dollars) Year 1970 1,200 3,000 5,000 1980 60 1990 6,000 100 2000 8,000 2010 15,000 200 10,000 2020 300 2030 20,000 50,000. The nominal GDP is the same as the view GDP, so the deflator is not 100. Percentage change in Contributions to growth are an industry's contribution to the state's overall percent change in real GDP.