Consider the following data about U.S. real GDP for the George W. H. Bush (1989-1993) and Bill Clinton (1993-2001) administrations: Year Real GDP (US$ billions) 1989 8786.4 1993 9521.0 2001 12682.3 The annualized growth rate for the Clinton administration is (round to the nearest two decimals):
Consider the following data about U.S. real GDP for the George W. H. Bush (1989-1993) and Bill Clinton (1993-2001) administrations: Year Real GDP (US$ billions) 1989 8786.4 1993 9521.0 2001 12682.3 The annualized growth rate for the Clinton administration is (round to the nearest two decimals):
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Consider the following data about U.S. real GDP for the George W. H. Bush (1989-1993) and Bill Clinton (1993-2001) administrations:
Year
Real GDP (US$ billions)
1989
8786.4
1993
9521.0
2001
12682.3
The annualized growth rate for the Clinton administration is (round to the nearest two decimals):
%
Transcribed Image Text:Consider the following data about U.S. real GDP for the George W. H. Bush (1989-1993) and Bill Clinton (1993-2001) administrations:
Year
Real GDP (US$ billions)
1989
8786.4
1993
9521.0
2001
12682.3
Comparison: Based on your answers to questions 8.1 through 8.4, which of the following statements is true?
O The total growth rates for both administration are directly comparable.
On average, the economy grew faster each year during the Bush administration.
On average, the economy grew faster each year during the Clinton administration.
The annualized growth rates for both administration are not directly comparable.
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