Use the table below to answer the following questions. a. Calculate the growth rate of real GDP for each year from 2016 to 2020: (Enter your responses rounded to two decimal places and include a minus sign if necessary.) Annual Growth rate of Real GDP Year 2016 2017 2018 2019 2020 Real GDP (Billions of 2012 dollars) 19,142 19,612 20,194 20,692 20,234 2.4% 2.9% 2.4% -2.2%

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Chapter1: Making Economics Decisions
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Real-Time Data Analysis Exercise*
Use the table below to answer the following questions.
a. Calculate the growth rate of real GDP for each year from 2016 to 2020: (Enter your responses rounded to two decimal places and include a minus sign if necessary.)
Annual Growth rate of Real
GDP
Year
2016
2017
2018
2019
2020
Real GDP
(Billions of 2012 dollars)
19.142
19,612
20.194
20,692
20,234
*Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.
2.4%
2.9%
2.4%
-2.2%
Transcribed Image Text:Real-Time Data Analysis Exercise* Use the table below to answer the following questions. a. Calculate the growth rate of real GDP for each year from 2016 to 2020: (Enter your responses rounded to two decimal places and include a minus sign if necessary.) Annual Growth rate of Real GDP Year 2016 2017 2018 2019 2020 Real GDP (Billions of 2012 dollars) 19.142 19,612 20.194 20,692 20,234 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. 2.4% 2.9% 2.4% -2.2%
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