do this in your own . not copy from other sites Problem 1: US Real GDPThe reference mode of the US GDP is shown in Figure 1US Real GDP8000AveragerowtRata.45%lyearDoublingTime-20years40001850190019502000Figure 1: US GDP - (Sterman, 2001)1. Identify the variables that might be responsible for the growth of the US GDP2. Sketch a causal loop diagram to capture the behavior you identify3. Identify potential negative feedback that might halt growth in the system

Real GDP is the total output produced by an economy in a fiscal year. The value of real GDP is…

1. Identify the variables that might be responsible for the growth of the US GDP 2. Sketch a causal loop diagram to capture the behavior you identify 3. Identify potential negative feedback that might halt growth in the system

1. Identify the variables that might be responsible for the growth of the US GDP 2. Sketch a causal loop diagram to capture the behavior you identify 3. Identify potential negative feedback that might halt growth in the system

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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do this in your own . not copy from other sites

Problem 1: US Real GDP
The reference mode of the US GDP is shown in Figure 1
US Real GDP
8000
AveragerowtRata.45%lyear
DoublingTime-20years
4000
1850
1900
1950
2000
Figure 1: US GDP - (Sterman, 2001)
1. Identify the variables that might be responsible for the growth of the US GDP
2. Sketch a causal loop diagram to capture the behavior you identify
3. Identify potential negative feedback that might halt growth in the system

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