If the chain-weighted growth rate of real GDP from 2007 to 2008 is 13% using 2007 as the reference year, what would be the chain- weighted growth rate of real GDP from 2007 to 2008 if the reference year were changed to 2006?

If the chain-weighted growth rate of real GDP from 2007 to 2008 is 13% using 2007 as the reference year, what would be the chain- weighted growth rate of real GDP from 2007 to 2008 if the reference year were changed to 2006?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A: Answer to the question is as follows :

Question

If the chain-weighted growth rate of real GDP
from 2007 to 2008 is 13% using 2007 as the
reference year, what would be the chain-
weighted growth rate of real GDP from 2007 to
2008 if the reference year were changed to
2006?
a. 6.5%
b. 7.5%
c. 13%
d. 26%
e. More information required to calculate the
answer.

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