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.

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 4SQ
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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.

2. Economic fluctuations and growth
The following table shows data on a hypothetical country's real GDP from 1970 through 1978:
Real GDP
Year
(Billions of Dollars)
1970
186
1971
190
1972
192
1973
202
1974
200
1975
194
1976
196
1977
200
1978
202
Transcribed Image Text:2. Economic fluctuations and growth The following table shows data on a hypothetical country's real GDP from 1970 through 1978: Real GDP Year (Billions of Dollars) 1970 186 1971 190 1972 192 1973 202 1974 200 1975 194 1976 196 1977 200 1978 202
220
216
Real GDP
212
208
Peak
204
200
196
Trough
Growth trend
192
188
184
180
1970
1971
1972
1973
1974
1975
1976
1977
1978
YEAR
REAL GDP (Billions of dollars)
Transcribed Image Text:220 216 Real GDP 212 208 Peak 204 200 196 Trough Growth trend 192 188 184 180 1970 1971 1972 1973 1974 1975 1976 1977 1978 YEAR REAL GDP (Billions of dollars)
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