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Problem 12-03 (algo, with video solution) Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your response as a percentage rounded two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year Real GDP Potential GDP Output gap Type of gap Growth rate of real GDP 2009 11,720 11,950 % (Click to select ✓ 2010 12,190 11,950 % (Click to select ✓ % 2011 12,650 12,320 % (Click to select ✓ % 2012 12,620 12,890 % (Click to select % 2013 12,280 13,150 % (Click to select ✓ % Recessionary gap is identified during 2011-2012 O 2009; 2012-2013 © 2009-2010; 2013 2010-2011

Problem 12-03 (algo, with video solution) Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your response as a percentage rounded two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year Real GDP Potential GDP Output gap Type of gap Growth rate of real GDP 2009 11,720 11,950 % (Click to select ✓ 2010 12,190 11,950 % (Click to select ✓ % 2011 12,650 12,320 % (Click to select ✓ % 2012 12,620 12,890 % (Click to select % 2013 12,280 13,150 % (Click to select ✓ % Recessionary gap is identified during 2011-2012 O 2009; 2012-2013 © 2009-2010; 2013 2010-2011

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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Problem 12-03 (algo, with video solution) Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your response as a percentage rounded two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year Real GDP Potential GDP Output gap Type of gap Growth rate of real GDP 2009 11,720 11,950 % (Click to select ✓ 2010 12,190 11,950 % (Click to select ✓ % 2011 12,650 12,320 % (Click to select ✓ % 2012 12,620 12,890 % (Click to select % 2013 12,280 13,150 % (Click to select ✓ % Recessionary gap is identified during 2011-2012 O 2009; 2012-2013 © 2009-2010; 2013 2010-2011
Transcribed Image Text:Problem 12-03 (algo, with video solution) Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your response as a percentage rounded two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year Real GDP Potential GDP Output gap Type of gap Growth rate of real GDP 2009 11,720 11,950 % (Click to select ✓ 2010 12,190 11,950 % (Click to select ✓ % 2011 12,650 12,320 % (Click to select ✓ % 2012 12,620 12,890 % (Click to select % 2013 12,280 13,150 % (Click to select ✓ % Recessionary gap is identified during 2011-2012 O 2009; 2012-2013 © 2009-2010; 2013 2010-2011
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