Consider the following data on U.S. GDP: Year (Billions of current dollars) (Billions of 2012 dollars) 2014 17,521.7 16,899.8 2015 18,219.3 17,386.7 2016 18,707.2 17,659.2 2017 19,485.4 18,050.7 2018 20,494.1 18,566.4 GDP Source: "National Economic Accounts."U.S. Bureau of Economic Analysis. The percentage change in nominal GDP from 2017 to 2018 was The percentage change in real GDP from 2014 to 2015 was True or False: The percentage change in real GDP from 2014 to 2015 was higher than the percentage change in real GDP from 2015 to 2016. True False

Consider the following data on U.S. GDP: Year (Billions of current dollars) (Billions of 2012 dollars) 2014 17,521.7 16,899.8 2015 18,219.3 17,386.7 2016 18,707.2 17,659.2 2017 19,485.4 18,050.7 2018 20,494.1 18,566.4 GDP Source: "National Economic Accounts."U.S. Bureau of Economic Analysis. The percentage change in nominal GDP from 2017 to 2018 was The percentage change in real GDP from 2014 to 2015 was True or False: The percentage change in real GDP from 2014 to 2015 was higher than the percentage change in real GDP from 2015 to 2016. True False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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