1 a. US GDP was 14,419 billion in 2009 and 14,964billion in 2010. What was the percentage increasein GDP over this period? Show your work.1 b. Inflation between 2009 and 2010 was 1.2percent. What was the approximate percentagegrowth in real GDP?2. According to the Bureau of Economic Analysis inthe U.S. Census Bureau, what was US GDP in 2017,in billions of current dollars?3. Approximately when did the most recent U.S.recession occur?

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Answered: 1 a. US GDP was 14,419 billion in 2009…

1 a. US GDP was 14,419 billion in 2009 and 14,964 billion in 2010. What was the percentage increase in GDP over this period? Show your work.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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