2. Economic fluctuations and growth The following table shows data on a hypothetical country's real GDP from 1980 through 1988: Year 1980 1981 1982 1983 1984 1985 1986 1987 1988 REAL GDP (Billions of dollars) The green line on the following graph shows the economy's long-term growth trend. 220 Use the blue points (circle symbol) to plot the real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the real GDP curve that definitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the real GDP curve that definitely represents a trough. 216 212 208 204 200 196 192 188 Real GDP (Billions of Dollars) 188 190 194 204 202 198 184 196 200 180 206 Long-term growth trend 1980 1981 1982 1983 1984 1985 1986 1987 1988 YEAR 。 Real GDP Peak Trough ?
2. Economic fluctuations and growth The following table shows data on a hypothetical country's real GDP from 1980 through 1988: Year 1980 1981 1982 1983 1984 1985 1986 1987 1988 REAL GDP (Billions of dollars) The green line on the following graph shows the economy's long-term growth trend. 220 Use the blue points (circle symbol) to plot the real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the real GDP curve that definitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the real GDP curve that definitely represents a trough. 216 212 208 204 200 196 192 188 Real GDP (Billions of Dollars) 188 190 194 204 202 198 184 196 200 180 206 Long-term growth trend 1980 1981 1982 1983 1984 1985 1986 1987 1988 YEAR 。 Real GDP Peak Trough ?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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