10.5 Linear trend (y) 10.0 Log of GDP per capita 9.5 y= 0.0214x + 8.7782 R = 0.9889 9.0 8.5 Year This shows log GDP per capita for the UK. Which of the following statements are correct? Select one or more: O a. The graph shows that in 1950 UK GDP per capita was about £8.75. O b. The trend growth rate over the period was 0.9889% per annum. Oc. When actual output is below trend output the economy is in recession. O d. The trend growth rate over the period was 2.14 % per annum. Log of GDP per capita 1950 - 1955 - 0961 1965 - 1970- 1975 - 1980 - 1985 - 066 1995 - 000, 2005 2010 -

10.5 Linear trend (y) 10.0 Log of GDP per capita 9.5 y= 0.0214x + 8.7782 R = 0.9889 9.0 8.5 Year This shows log GDP per capita for the UK. Which of the following statements are correct? Select one or more: O a. The graph shows that in 1950 UK GDP per capita was about £8.75. O b. The trend growth rate over the period was 0.9889% per annum. Oc. When actual output is below trend output the economy is in recession. O d. The trend growth rate over the period was 2.14 % per annum. Log of GDP per capita 1950 - 1955 - 0961 1965 - 1970- 1975 - 1980 - 1985 - 066 1995 - 000, 2005 2010 -

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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