GDP Drops 4.8% Amid Outbreak

GDP Drops 4.8% Amid Outbreak

Assessment

Interactive Video

Business

University

Hard

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The video discusses the economic impact of COVID-19, highlighting a 4.8% decline in GDP during the first quarter of the year, marking the first negative GDP reading since 2014. The decline is attributed to stay-at-home orders and changes in consumer behavior. Economic forecasts predict further GDP decline in the second quarter, but a potential rebound in the third and fourth quarters. The report coincides with rising virus cases and unemployment, as governments plan economic recovery.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the annual rate of decline in real gross domestic product during the first quarter of this year?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

According to the report, what were some reasons for the decline in GDP?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What impact did consumer spending have on the GDP during the first quarter?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What predictions did economic forecasters make regarding GDP in the second quarter?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What did President Donald Trump say about the GDP in the third and fourth quarters?

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