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Author Question: If real GDP grows by 2.7% in year 1, 2.5% in year 2, and 2.9% in year 3, what is the average annual ... (Read 75 times)

billyboy7272

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on: Nov 23, 2022

Question 1


YearReal GDP (billions)
   1         $9010
   2           9380
   3           9885
   4           10,150
Refer to the table. Using the data in the table, what is the approximate total growth rate of real GDP from Year 1 to Year 4? (Round to the nearest tenth.)
◦ 12.7%
◦ 11.3%
◦ 11.4%
◦ 11.2%

Question 2

If real GDP grows by 2.7% in year 1, 2.5% in year 2, and 2.9% in year 3, what is the average annual growth rate of real GDP for those three years? (Round to the nearest tenth when appropriate.)
◦ 3.2%
◦ 8.1%
◦ 2.5%
◦ 2.7%
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by billyboy7272 on Nov 23, 2022

viper01

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Reply #1 on: Nov 23, 2022
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billyboy7272

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Reply 2 on: Nov 23, 2022
Wow, this really help

atrochim

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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