Given below is the the real GDP and potential GDP for the fictitious country "Alpha." a. Use the data to determine the year-to-year growth rates of real GDP and the output gap as a percentage of potential GDP, and st whether the gap is a recessionary gap or an expansionary gap. Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be su to include a negative sign (-) in front of those numbers. Year 2012 2013 2014 2015 2016 2017 2018 2019 Real GDP $ 17,500 $ 18, 200 $ 18,500 $ 18,400 $ 18, 200 $ 18,600 $ 19,200 $ 19,900 Potential GDP Real GDP growth $ 17,300 $ 17,800 $ 18,300 $ 18,800 $19,300 $ 19,700 $ 20,100 $ 20,500 % % % % % Output gap % % aeaeaeaeaeae % % % % Type of gap expansionary expansionary expansionary recessionary recessionary recessionary recessionary recessionary

Exploring Economics
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Chapter20: Economic Growth In The Global Economy
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b. Use the data above to graph Alpha's real GDP between 2012 and 2019.
Instructions: Use the tool 'real GDP' to graph the 8 real GDP values from year 2012 until 2019.
Real GDP
20,000
19,800
19,600
19,400
19,200
19,000
18,800
18,600
18,400
18,200
18,000
17,800
17,600
17,400
2011
2012
Business Cycle
2013
2014
2015
2016
Year
2017
2018
Tools
2019
2020
/
line 2
Transcribed Image Text:b. Use the data above to graph Alpha's real GDP between 2012 and 2019. Instructions: Use the tool 'real GDP' to graph the 8 real GDP values from year 2012 until 2019. Real GDP 20,000 19,800 19,600 19,400 19,200 19,000 18,800 18,600 18,400 18,200 18,000 17,800 17,600 17,400 2011 2012 Business Cycle 2013 2014 2015 2016 Year 2017 2018 Tools 2019 2020 / line 2
Given below is the the real GDP and potential GDP for the fictitious country "Alpha."
a. Use the data to determine the year-to-year growth rates of real GDP and the output gap as a percentage of potential GDP, and state
whether the gap is a recessionary gap or an expansionary gap.
Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be sure
to include a negative sign (-) in front of those numbers.
Year
2012
2013
2014
2015
2016
2017
2018
2019
Real GDP
$ 17,500
$ 18, 200
$ 18,500
$ 18,400
$ 18,200
$ 18,600
$ 19,200
$ 19,900
Potential GDP Real GDP growth
$ 17,300
$ 17,800
$ 18,300
$ 18,800
$ 19,300
$ 19,700
$ 20,100
$ 20,500
%
%
%
%
Output gap
%
%
%
recessionary
recessionary
recessionary
% recessionary
de de
Type of gap
expansionary
expansionary
expansionary
recessionary
%
V
Transcribed Image Text:Given below is the the real GDP and potential GDP for the fictitious country "Alpha." a. Use the data to determine the year-to-year growth rates of real GDP and the output gap as a percentage of potential GDP, and state whether the gap is a recessionary gap or an expansionary gap. Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year 2012 2013 2014 2015 2016 2017 2018 2019 Real GDP $ 17,500 $ 18, 200 $ 18,500 $ 18,400 $ 18,200 $ 18,600 $ 19,200 $ 19,900 Potential GDP Real GDP growth $ 17,300 $ 17,800 $ 18,300 $ 18,800 $ 19,300 $ 19,700 $ 20,100 $ 20,500 % % % % Output gap % % % recessionary recessionary recessionary % recessionary de de Type of gap expansionary expansionary expansionary recessionary % V
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