Refer to Figure 13-4. In the figure above, AD1, LRAS1 and SRAS1 denote AD, LRAS and SRAS in year 1, while AD2, LRAS2 and SRAS2 denote AD, LRAS and SRAS in year 2
Given the economy is at point A in year 1, what is the actual growth rate in GDP in year 2?
A) 2.5% B) 7.3% C) 8.0% D) 10.0%
B
Economics
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The approach to analyzing consumer behavior that asks consumers to rank and choose among different product attributes to reveal their relative valuation of different characteristics is called:
A) a direct consumer survey. B) contingent valuation. C) the hedonic estimation technique. D) conjoint analysis.
Economics
From 1800 to 1940, the price level in the United States
A) trended neither upward nor downward. B) fluctuated wildly. C) declined slowly. D) increased slowly.
Economics