ENGR.ECONOMIC ANALYSIS
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ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Transcribed Image Text:Consider the following data on U.S. GDP:
Year (Billions of current dollars) (Billions of 2012 dollars)
2014
17,521.7
16,899.8
2015
18,219.3
17,386.7
2016
18,707.2
17,659.2
2017
19,485.4
18,050.7
2018
20,494.1
18,566.4
GDP
Source: "National Economic Accounts."U.S. Bureau of Economic Analysis.
The percentage change in nominal GDP from 2017 to 2018 was
The percentage change in real GDP from 2014 to 2015 was
True or False: The percentage change in real GDP from 2014 to 2015 was higher than the percentage change in real GDP from 2015 to 2016.
True
False
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