Answered: Explain why the variables move together…

Business

Economics

Explain why the variables move together on this time trend.

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

Explain why the variables move together on this time trend.

(Please see attachment and give proper correct explanation in typed format step by step within 40 min .

Will give you thumbs up only for the correct answer . Thank you .)

25000.0
20000.0
15000.0
10000.0
5000.0
0.0
1950
1960
Real GDP vs. Potential GDP
1970
1980
Real GDP (in billions)
1990
2000
2010
Potential Real GDP (in billions)
2020
2030

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