(a)[3]
What does the term real Gross Domestic Product mean?
(b)[4]
Analyse why the ‘changes in other countries’ may affect the rate of growth of GDP in the US.
(c)[6]
Apply the circular flow of income model to the information in Table 1 to discuss why the rise in US GDP in the first quarter of 2015 was smaller than the rise in the last quarter of 2014.
(d)[7]
Discuss whether there is any evidence in the information to suggest that the US could have expected a higher rate of growth in GDP in the first quarter of 2015 than that which occurred.