. If the present price level is 100, the growth rate of real GDP is 5. If the present price level is 120, the growth rate of real GDP is %. %.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Use the graph shown below to calculate the growth rate of real GDP for a price increase of 20 percentage points in each case. Enter
your responses below rounded to one decimal place.
Price index
160
155
150
145
140
135
130
125
120
115
110
105
100
95
90
85
80
750 800 850 900 950 1000 1050 1100
Real GDP
Transcribed Image Text:Use the graph shown below to calculate the growth rate of real GDP for a price increase of 20 percentage points in each case. Enter your responses below rounded to one decimal place. Price index 160 155 150 145 140 135 130 125 120 115 110 105 100 95 90 85 80 750 800 850 900 950 1000 1050 1100 Real GDP
a. If the present price level is 100, the growth rate of real GDP is
b. If the present price level is 120, the growth rate of real GDP is
%.
%.
Transcribed Image Text:a. If the present price level is 100, the growth rate of real GDP is b. If the present price level is 120, the growth rate of real GDP is %. %.
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