t (years since 2008)GDP (trillion dollars) 14.67 -14.810.250.50.7514.84 14.55 14.38(a) Estimate the relative growth rate (percent per year) at the firstfour times in the table.NOTE: Round your answers to one decimal place.Relative growth rate at 0Relative growth rate at 0.25%Relative growth rate at 0.5Relative growth rate at 0.75 =(b) Economists often say an economy is in recession if the GDPdecreases for two quarters in a row. Was the US in recessionin 2008?becauseThe US Choose oneChoose one ▼

Relative change is computed by subtracting the value of the indicator in the first period from the…

t (years since 2008) GDP (trillion dollars) 0.25 0.5 0.75 1 14.67 -14.81 14.84 14.55 14.38 (a) Estimate the relative growth rate (percent per year) at the first four times in the table. NOTE: Round your answers to one decimal place. Relative growth rate at 0 = % Relative growth rate at 0.25 %

t (years since 2008) GDP (trillion dollars) 0.25 0.5 0.75 1 14.67 -14.81 14.84 14.55 14.38 (a) Estimate the relative growth rate (percent per year) at the first four times in the table. NOTE: Round your answers to one decimal place. Relative growth rate at 0 = % Relative growth rate at 0.25 %

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

t (years since 2008)
GDP (trillion dollars) 14.67 -14.81
0.25
0.5
0.75
14.84 14.55 14.38
(a) Estimate the relative growth rate (percent per year) at the first
four times in the table.
NOTE: Round your answers to one decimal place.
Relative growth rate at 0
Relative growth rate at 0.25
%
Relative growth rate at 0.5
Relative growth rate at 0.75 =
(b) Economists often say an economy is in recession if the GDP
decreases for two quarters in a row. Was the US in recession
in 2008?
because
The US Choose one
Choose one ▼

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