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Select one or more: a. The trend growth rate over the period was around 2.14 % per annum. b. The graph shows that in 1950 UK GDP per capita was about £8.75. c. When actual output is below trend output the economy is in recession. d. The trend growth rate over the period was 0.9889% per annum.

Select one or more: a. The trend growth rate over the period was around 2.14 % per annum. b. The graph shows that in 1950 UK GDP per capita was about £8.75. c. When actual output is below trend output the economy is in recession. d. The trend growth rate over the period was 0.9889% per annum.

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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Select one or more:
a.
The trend growth rate over the period was around 2.14 % per annum.
b.
The graph shows that in 1950 UK GDP per capita was about £8.75.
c.
When actual output is below trend output the economy is in recession.
d.
The trend growth rate over the period was 0.9889% per annum.
Log of GDP per capita 10.5 10.0 9.5 9.0 8.5 1950 1955- - 096T 1965- 1970 1975- 1980 Year 1985- 1990 1995- Linear trend (y) Log of GDP per capita y = 0.0214x + 8.7782 R² = 0.9889 2000 2005 2010
Transcribed Image Text:Log of GDP per capita 10.5 10.0 9.5 9.0 8.5 1950 1955- - 096T 1965- 1970 1975- 1980 Year 1985- 1990 1995- Linear trend (y) Log of GDP per capita y = 0.0214x + 8.7782 R² = 0.9889 2000 2005 2010
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