Price level(GDP deflator,2009 = 100)31.428.719751974LRAS1974SRAC1975 SRAS19745.38 5.39LRAS19755.42Real GDP (trillions of 2009 dollars)AD1974, 19755.61 Consider the aggregate economy for the United States in 1974 and 1975, represented by thegraph below. What is the rate of growth in real GDP, if any? Provide your answer as a percentrounded to two decimal places. Use a negative sign "-" for negative changes. Do not include anysymbols, such as "$," "," "%," or "," in your answer.Price level(GDP deflator,2009-100)31.428.71975LRASISRACI197SRASILRAS197AD

Standard national income estimates may be used to analyze the factors influencing economic growth,…

Answered: Price level (GDP deflator, 2009 = 100)…

Price level (GDP deflator, 2009 = 100) 31.4 28.7 1975 LRAS1974 1974 LRAS1975 SRAC1975 SRAS1974 5.38 5.39 5.42 Real GDP (trillions of 2009 dollars) 4 AD1974, 1975 5.61

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Price level
(GDP deflator,
2009 = 100)
31.4
28.7
1975
1974
LRAS1974
SRAC1975 SRAS1974
5.38 5.39
LRAS1975
5.42
Real GDP (trillions of 2009 dollars)
AD1974, 1975
5.61

Consider the aggregate economy for the United States in 1974 and 1975, represented by the
graph below. What is the rate of growth in real GDP, if any? Provide your answer as a percent
rounded to two decimal places. Use a negative sign "-" for negative changes. Do not include any
symbols, such as "$," "," "%," or "," in your answer.
Price level
(GDP deflator,
2009-100)
31.4
28.7
1975
LRASI
SRACI
197
SRASI
LRAS197
AD

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