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onsider the following data on U.S. GDP: Year GDP (Billions of current dollars) (Billions of 2012 dollars) 2014 17,521.7 16,899.8 2015 18,219.3 17,386.7 2016 18,707.2 17,659.2 2017 19,485.4 18,050.7 2018 20,494.1 18,566.4 Source: “National Economic Accounts.”U.S. Bureau of Economic Analysis.   The percentage change in nominal GDP from 2017 to 2018 was    .   The percentage change in real GDP from 2016 to 2017 was    .   True or False: The percentage change in real GDP from 2015 to 2016 was higher than the percentage change in real GDP from 2016 to 2017.   True or False

onsider the following data on U.S. GDP: Year GDP (Billions of current dollars) (Billions of 2012 dollars) 2014 17,521.7 16,899.8 2015 18,219.3 17,386.7 2016 18,707.2 17,659.2 2017 19,485.4 18,050.7 2018 20,494.1 18,566.4 Source: “National Economic Accounts.”U.S. Bureau of Economic Analysis.   The percentage change in nominal GDP from 2017 to 2018 was    .   The percentage change in real GDP from 2016 to 2017 was    .   True or False: The percentage change in real GDP from 2015 to 2016 was higher than the percentage change in real GDP from 2016 to 2017.   True or False

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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Consider the following data on U.S. GDP:
Year
GDP
(Billions of current dollars)
(Billions of 2012 dollars)
2014 17,521.7 16,899.8
2015 18,219.3 17,386.7
2016 18,707.2 17,659.2
2017 19,485.4 18,050.7
2018 20,494.1 18,566.4
Source: “National Economic Accounts.”U.S. Bureau of Economic Analysis.
 
The percentage change in nominal GDP from 2017 to 2018 was    .
 
The percentage change in real GDP from 2016 to 2017 was    .
 
True or False: The percentage change in real GDP from 2015 to 2016 was higher than the percentage change in real GDP from 2016 to 2017.
 
True or False
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