Suppose that the annual rates of growth of real GDP in Econoland over a five-year period were as follows: Year Growth Rate (X) 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.
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- 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: 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. percentSuppose that the annual rates of growth of real GDP in Econoland over a five-year period were as follows: Year Growth Rate (%) 1 3 2 2 3 -2 4 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? |(Click to select) ♥ c. If the growth rate in year 3 had been a positive 5 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
- 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 five years? What term would economists use to describe what happened in year 3? 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?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? __________ percentSuppose 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 a country's annual growth rates were 5, 3, 4 , -1 , -2 , 2 , 3 , 4, 6, and 3 in yearly sequence over a 10 - year period . a ) What was the country's trend rate of growth over this period ? b ) Which set of years most clearly demonstrates an expansionary phase of the business cycle ? c ) Which set of years best illustrates a recessionary phase of the business cycle ?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 5.13.2) Suppose that real GDP grew at 4% for three years. In year 4, real GDP growth fell smoothly to -2%, then growth recovered smoothly to 2% in years 5 and 6. Sketch a graph of the level of real GDP over this 5 year window, and a second graph of the growth rate of real GDP over the same period. The growth rate graph is easy....
- Two sub periods in the long period of 1950-1979. The sub periods considered are 1950-1953 and 1974-1979. The average GDP growth in 1950-1979 period has been 5% but the average growth rates varied greatly from one sub period to another since the economic conditions and performances were very different in each sub period. Let me precise that in 1950-53 period the average GDP growth attained roughly 10% while in 1974-1979 period it remained at 3%. -Describe briefly the main structural and economic policy characteristics of these two sub periods concerning the two variables of the production function: the capital stock and the labour (employment).Say, in coming February, 2022 the Central Statistical Qrganisation comes out with its Income estimates, and according to the released numbers the growth in GDP over the year 2021 – 22 has been 8%. a) What are the possible practical problems in interpreting the 8% growth figure released in February? b) Under what circumstances can one say that the real incomes have gone up by 8%? c) Can one say that the standards of living in the last year have improved by 8%? Under what condition one can say that?Part C: Following graph shows business cycle fluctuation in a hypothetical economy. "Y" denotes year, and "Q" denotes quarter. What do points A, B, C, and D denote? Write at least a sentence each about what these points denote. Also, explain what represent the curve segments: A to B, B to C, and C to D. Lastly, because economic activity fluctuates, how is long-term growth possible? Real GDP (billion $) 50 45 40 B 35 30 25 20 15 10 5 Y1Q1 Y1Q2 Y1Q3 Y1Q4 Y2 Q1 Y2 Q2 Y2 Q4 Y3 Q1 Y3Q2 un o