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GDP in billions of current dollars (NGDP) GDP in billions of chained 2012 dollars Year (RGDP) 2010 15,049.0 15,649.0 2011 15,599.7 15,891.5 2012 16,254.0 16,254.0 2013 16,843.2 16,553.3 2014 17,550.7 16,932.1 2015 18,206.0 17,390.3 2016 18,695.1 17,680.3 2017 19,477.3 18,076.7 2018 20,533.1 18,609.1 2019 21,381.0 19,036.1 2020 21,060.5 18,509.1 2021 23,315.1 19,609.8 2022 25,462.7 20,014.1 Calculate the annual growth rate of NGDP and RGDP in 2021. Calculate the annual growth rate of NGDP and RGDP in 2022. The annual growth rate of NGDP in 2021 was growth rate of RGDP in 2021 was than in 2022, and the annual than the one in 2022. ○ 1.5% lower; almost 4% higher 1.5% higher; almost 4% lower 1.5% higher; almost 4% higher None of the above

GDP in billions of current dollars (NGDP) GDP in billions of chained 2012 dollars Year (RGDP) 2010 15,049.0 15,649.0 2011 15,599.7 15,891.5 2012 16,254.0 16,254.0 2013 16,843.2 16,553.3 2014 17,550.7 16,932.1 2015 18,206.0 17,390.3 2016 18,695.1 17,680.3 2017 19,477.3 18,076.7 2018 20,533.1 18,609.1 2019 21,381.0 19,036.1 2020 21,060.5 18,509.1 2021 23,315.1 19,609.8 2022 25,462.7 20,014.1 Calculate the annual growth rate of NGDP and RGDP in 2021. Calculate the annual growth rate of NGDP and RGDP in 2022. The annual growth rate of NGDP in 2021 was growth rate of RGDP in 2021 was than in 2022, and the annual than the one in 2022. ○ 1.5% lower; almost 4% higher 1.5% higher; almost 4% lower 1.5% higher; almost 4% higher None of the above

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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GDP in billions of current dollars (NGDP) GDP in billions of chained 2012 dollars Year (RGDP) 2010 15,049.0 15,649.0 2011 15,599.7 15,891.5 2012 16,254.0 16,254.0 2013 16,843.2 16,553.3 2014 17,550.7 16,932.1 2015 18,206.0 17,390.3 2016 18,695.1 17,680.3 2017 19,477.3 18,076.7 2018 20,533.1 18,609.1 2019 21,381.0 19,036.1 2020 21,060.5 18,509.1 2021 23,315.1 19,609.8 2022 25,462.7 20,014.1 Calculate the annual growth rate of NGDP and RGDP in 2021. Calculate the annual growth rate of NGDP and RGDP in 2022. The annual growth rate of NGDP in 2021 was growth rate of RGDP in 2021 was than in 2022, and the annual than the one in 2022. ○ 1.5% lower; almost 4% higher 1.5% higher; almost 4% lower 1.5% higher; almost 4% higher None of the above
Transcribed Image Text:GDP in billions of current dollars (NGDP) GDP in billions of chained 2012 dollars Year (RGDP) 2010 15,049.0 15,649.0 2011 15,599.7 15,891.5 2012 16,254.0 16,254.0 2013 16,843.2 16,553.3 2014 17,550.7 16,932.1 2015 18,206.0 17,390.3 2016 18,695.1 17,680.3 2017 19,477.3 18,076.7 2018 20,533.1 18,609.1 2019 21,381.0 19,036.1 2020 21,060.5 18,509.1 2021 23,315.1 19,609.8 2022 25,462.7 20,014.1 Calculate the annual growth rate of NGDP and RGDP in 2021. Calculate the annual growth rate of NGDP and RGDP in 2022. The annual growth rate of NGDP in 2021 was growth rate of RGDP in 2021 was than in 2022, and the annual than the one in 2022. ○ 1.5% lower; almost 4% higher 1.5% higher; almost 4% lower 1.5% higher; almost 4% higher None of the above
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