a. Calculate the growth rate of real GDP for each year from 1997 to 2001. The growth rate of real GDP for 1998 = The growth rate of real GDP for 1999 = The growth rate of real GDP for 2000 = Year 1997 1998 1999 2000 2001 %. (Round your response to two decimal places.) %. (Round your response to two decimal places.) %. (Round your response to two decimal places.) The growth rate of real GDP for 2001 = %. (Round your response to two decimal places.) b. Calculate the average annual growth rate of real GDP for the period from 1997 to 2001. Average annual growth rate = %. (Round your response to two decimal places.) RGDP (billions of 2005 dollars) $9,890 9,100 10,003 10,389 10,579

a. Calculate the growth rate of real GDP for each year from 1997 to 2001. The growth rate of real GDP for 1998 = The growth rate of real GDP for 1999 = The growth rate of real GDP for 2000 = Year 1997 1998 1999 2000 2001 %. (Round your response to two decimal places.) %. (Round your response to two decimal places.) %. (Round your response to two decimal places.) The growth rate of real GDP for 2001 = %. (Round your response to two decimal places.) b. Calculate the average annual growth rate of real GDP for the period from 1997 to 2001. Average annual growth rate = %. (Round your response to two decimal places.) RGDP (billions of 2005 dollars) $9,890 9,100 10,003 10,389 10,579

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Give typing answer with explanation and conclusion

a. Calculate the growth rate of real GDP for each year from 1997 to 2001.
The growth rate of real GDP for 1998 =
%. (Round your response to two decimal places.)
%. (Round your response to two decimal places.)
%. (Round your response to two decimal places.)
The growth rate of real GDP for 2001 =
%. (Round your response to two decimal places.)
b. Calculate the average annual growth rate of real GDP for the period from 1997 to 2001.
Average annual growth rate =
%. (Round your response to two decimal places.)
The growth rate of real GDP for 1999 =
Year
1997
1998
1999
2000
2001
The growth rate of real GDP for 2000 =
RGDP
(billions of 2005 dollars)
$9,890
9,100
10,003
10,389
10,579

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