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The following table shows data on a hypothetical country's real GDP from 1980 through 1988: Real GDP Year (Billions of Dollars) 1980 372 1981 380 REAL GOP (Billions of dollars) 1982 1983 1984 1985 1986 1987 1988 Use the blue points (circle symbol) to plot the real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the real GDP curve that definitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the real GDP curve that definitely represents a trough. 440 432 410 406 400 382 304 378 308 300 1 0 3 4 4 384 404 400 388 392 1900 1981 400 404 Growth trend Once you've calculated the percentage change for each of the years, use the orange points (square symbol) to plot your results on the following graph, rounded to the nearest percent. For each year, plot the percentage change from the year before. (Hint: For example, you should plot the growth rate from 1980 to 1981 with a horizontal coordinate of 1981.) 1001 1962 1963 1004 1905 1900 1987 1968 1904 1005 1995 YEAR This economy experienced a contraction in the years 。 Real GDP P + Peak a 1968 Trough (?) Annual Real GDP Growth (? ▼ . On the first graph (showing real GDP), this contraction is seen as a period in

The following table shows data on a hypothetical country's real GDP from 1980 through 1988: Real GDP Year (Billions of Dollars) 1980 372 1981 380 REAL GOP (Billions of dollars) 1982 1983 1984 1985 1986 1987 1988 Use the blue points (circle symbol) to plot the real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the real GDP curve that definitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the real GDP curve that definitely represents a trough. 440 432 410 406 400 382 304 378 308 300 1 0 3 4 4 384 404 400 388 392 1900 1981 400 404 Growth trend Once you've calculated the percentage change for each of the years, use the orange points (square symbol) to plot your results on the following graph, rounded to the nearest percent. For each year, plot the percentage change from the year before. (Hint: For example, you should plot the growth rate from 1980 to 1981 with a horizontal coordinate of 1981.) 1001 1962 1963 1004 1905 1900 1987 1968 1904 1005 1995 YEAR This economy experienced a contraction in the years 。 Real GDP P + Peak a 1968 Trough (?) Annual Real GDP Growth (? ▼ . On the first graph (showing real GDP), this contraction is seen as a period in

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following table shows data on a hypothetical country's real GDP from 1980 through 1988: Real GDP Year (Billions of Dollars) 1980 372 1981 380 1982 384 404 400 388 392 400 404 Use the blue points (circle symbol) to plot the real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the real GDP curve that definitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the real GDP curve that definitely represents a trough. REAL GDP (Billions of cordis 1983 1984 1985 1986 1987 1988 ROWTH RATE (Percent 440 432 424 410 408 400 382 304 378 388 360 -1 -3 -4 Growth trend 5 1980 1981 1982 1983 1984 1081 Once you've calculated the percentage change for each of the years, use the orange points (square symbol) to plot your results on the following graph, rounded to the nearest percent. For each year, plot the percentage change from the year before. (Hint: For example, you should plot the growth rate from 1980 to 1981 with a horizontal coordinate of 1981.) 1982 1883 1985 1980 1987 1988 O True O False 1064 1885 1000 YEAR 1887 This economy experienced a contraction in the years which the level of real GDP seen as a period in which the growth rate of real GDP 1068 True or False: This economy was experiencing a contraction in 1981. O Real GDP + Peak XX Trough (?) -0- Annual Real GDP Growth . On the first graph (showing real GDP), this contraction is seen as a period in . On the second graph (showing annual change in real GDP), this contraction is
Transcribed Image Text:The following table shows data on a hypothetical country's real GDP from 1980 through 1988: Real GDP Year (Billions of Dollars) 1980 372 1981 380 1982 384 404 400 388 392 400 404 Use the blue points (circle symbol) to plot the real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the real GDP curve that definitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the real GDP curve that definitely represents a trough. REAL GDP (Billions of cordis 1983 1984 1985 1986 1987 1988 ROWTH RATE (Percent 440 432 424 410 408 400 382 304 378 388 360 -1 -3 -4 Growth trend 5 1980 1981 1982 1983 1984 1081 Once you've calculated the percentage change for each of the years, use the orange points (square symbol) to plot your results on the following graph, rounded to the nearest percent. For each year, plot the percentage change from the year before. (Hint: For example, you should plot the growth rate from 1980 to 1981 with a horizontal coordinate of 1981.) 1982 1883 1985 1980 1987 1988 O True O False 1064 1885 1000 YEAR 1887 This economy experienced a contraction in the years which the level of real GDP seen as a period in which the growth rate of real GDP 1068 True or False: This economy was experiencing a contraction in 1981. O Real GDP + Peak XX Trough (?) -0- Annual Real GDP Growth . On the first graph (showing real GDP), this contraction is seen as a period in . On the second graph (showing annual change in real GDP), this contraction is
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