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 GDP20,00019,80019,60019,40019,20019,00018,80018,60018,40018,20018,00017,80017,60017,40020112012Business Cycle2013201420152016Year20172018Tools20192020/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 statewhether 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 sureto include a negative sign (-) in front of those numbers.Year20122013201420152016201720182019Real GDP$ 17,500$ 18, 200$ 18,500$ 18,400$ 18,200$ 18,600$ 19,200$ 19,900Potential GDP Real GDP growth$ 17,300$ 17,800$ 18,300$ 18,800$ 19,300$ 19,700$ 20,100$ 20,500%%%%Output gap%%%recessionaryrecessionaryrecessionary% recessionaryde deType of gapexpansionaryexpansionaryexpansionaryrecessionary%V

Real GDP, or Gross Domestic Product, is a measure of a country's economic output adjusted for…

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

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

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 2P

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Similar questions

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