Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were sequentially as follows: Year 1 2 3 4 5 percent Growth Rate (8) 5 a. What was the average of these growth rates in Econoland over these five years? Instructions: Enter your answer rounded to 1 decimal place. Recession 2 -2 4 6 b. What term would economists use to describe what happened in year 3? percent c. If the growth rate in year 3 had been a positive 2 percent rather than a negative 2 percent, what would have been Econoland's average growth rate over the five years? Instructions: Enter your answer rounded to 1 decimal place.

Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were sequentially as follows: Year 1 2 3 4 5 percent Growth Rate (8) 5 a. What was the average of these growth rates in Econoland over these five years? Instructions: Enter your answer rounded to 1 decimal place. Recession 2 -2 4 6 b. What term would economists use to describe what happened in year 3? percent c. If the growth rate in year 3 had been a positive 2 percent rather than a negative 2 percent, what would have been Econoland's average growth rate over the five years? Instructions: Enter your answer rounded to 1 decimal place.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 8SQP

See similar textbooks

Similar questions

For a high-income economy like the United States, what aggregate production function elements are most important in bringing about growth in GDP per capita? What about a middle-income country such as Brazil? A low-income country such as Niger?
Suppose that the annual rates of growth of real GDP of Econoland over a five-year period were as follows: Year Growth Rate 1 4% 2 28 3 -2% 4 48 5 6% What was the average of these growth rates in Econoland over these five years? Instructions: Round your answer to one decimal place. % What term would economists use to describe what happened in year 3? (Click to select) If the growth rate in year 3 had been a positive 2 percent rather than a negative 2 percent, what would have been the average growth rate? 1%
Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were as follows: Year Growth Rate (%) 1 2 3 -1 4 4 5 6 a. What was the average of these growth rates in Econoland over these five years? Instructions: Enter your answer rounded to 1 decimal place. percent b. What term would economists use to describe what happened in year 3? |(Click to select) ♥ c. If the growth rate in year 3 had been a positive 5 percent rather than a negative 1 percent, what would have been Econoland's average growth rate over the five years? Instructions: Enter your answer rounded to 1 decimal place. percent
Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were as follows: Year Growth Rate (X) 1 2 1 3 -2 4 4 a. What was the average of these growth rates in Econoland over these five years? Instructions: Enter your answer rounded to 1 decimal place. percent b. What term would economists use to describe what happened in year 3? Recession c. If the growth rate in year 3 had been a positive 2 percent rather than a negative 2 percent, what would have been Econoland's average growth rate over the five years? Instructions: Enter your answer as a whole number. percent
Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were as follows: Growth Rate (3) 5 Year 1 2 3 4 5 2 -2 4 5 a. What was the average of these growth rates in Econoland over these five years? Instructions: Enter your answer rounded to 1 decimal place. percent b. What term would economists use to describe what happened in year 3? Recession c. If the growth rate in year 3 had been a positive 3 percent rather than a negative 2 percent, what would have been Econoland's average growth rate over the five years? Instructions: Enter your answer rounded to 1 decimal place. percent
Year Real GDP Nominal GDP 2019 $15,510.79 $17,310.70 2020 $17,495.23 $18,761.83 2021 $18,209.59 $19,253.97 Refer to the table above. What is the growth rate in real GDP from 2020 to 2021? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
The figure below graphs log GDP for periods t = 1, t = 2, t = 3, t = 4, and t = 5. log GDP log 115. log 110. log 108 log 105 log 100 2 3 4 5 time (a) Calculate the rate of growth of GDP between periods 2 and 3. (b) Calculate the slope of the red line in the figure. (c) What is the geometric average rate of growth of GDP between time 1 and time 5?
Macmillan Learning Suppose that the GDP of California increases by 12% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 22 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. average annual growth for Oregon: years % each year
Suppose that a country's annual growth rates were as follows over a 10-year period. Year 2 3 6 10 Growth Rate 5 3 4 -3 -4 2 3 4 What was the country's trend rate of growth over this period? Instruction: Round your answer to one decimal place. The trend rate of growth= 23 percent Which set of years most clearly demonstrates an expansionary phase of the business cycle? Years 6 through [ 9 Which set of years best illustrates a recessionary phase of the business cycle? Years 4 through
Suppose that the annual rates of growth of real GDP of Econoland over a five-year period were sequentially as follows: 3 percent, 1 percent, -2 percent, 4 percent, and 5 percent. What was the average of these growth rates in Econoland over these 5 years? What term would economists use to describe what happened in year 3?
Q.1.3 In the base year, a country produced 50 units of output at a price of R6,00 eachfor a nominal GDP of R300. This year it produces 60 units of output at a price ofR8,00 each. What is the percentage change in real GDP since the base year?(2)(a) 5%;(b) 10%;(c) 20%;(d) 15%.
Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were as follows: Year Growth Rate (%) 1 4 2 2 3 -1 4 4 5 6 a. What was the average of these growth rates in Econoland over these five years? ________ percent b. What term would economists use to describe what happened in year 3? c. If the growth rate in year 3 had been a positive 4 percent rather than a negative 1 percent, what would have been Econoland's average growth rate over the five years? __________ percent