2. Economic fluctuations and growth The following table shows data on a hypothetical country's real GDP from 1980 throug

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: 2 Economic Fluctuations And Growth The Following Table Shows Data On A Hypothetical Country S Real Gdp From 1980 Throug 1 (32.27 KiB) Viewed 161 times

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2. Economic fluctuations and growth The following table shows data on a hypothetical country's real GDP from 1980 through 1988: Year Real GDP (Billions of dollars) 368 1980 1981 380 384 1982 1983 392 1984 408 412 1985 1986 404 1987 400 1988 404 The green line on the following graph shows the economy's long-term growth trend: Use the blue points (circle symbol) to plot the real GOP in each of the years sted. (Note: Poe your points in the order in which you would be them connected Line segments will connect the points automatically) Next place the black point (plus symbol) on the graph to indicate the point on the (real GOP curve that definitely represents a peak Finally ace the grey point (star symbol) on the graph to indicate the point in the real cop curve that definitely represents a trough
440 o 432 Real GDP 424 + 416 Peak REAL GDP (Bions of dollars) 400 392 Trough Growth trend 384 370 360 1980 1981 1002 1983 1965 1900 1987 1988 1994 YEAR Calculate the percentage change in real GOP in each of the years shown. (Hint: The percentage change in real GDP equals the change in GDP from the previous year to the current year. For example, you can calculate the percentage change for 1981 by finding the change in GOP from 1980 to 1981, dividing this change by the level of GDP in 1980, and then multiplying the result by 100%) Once you've calculated the percentage change for each of the years, use the orange points (square symbol) to plot your results on the following graph rounded to the nearest percent. For each year, plot the percentage change from the year before. (Hint: For example, you should plot the growth rate from 1980 to 1981 with a horizontal coordinate of 1981)
Calculate the percentage change in real GDP in each of the years shown. (Hint: The percentage change in real GDP equals the change in GOP from the previous year to the current year. For example, you can calculate the percentage change for 1981 by finding the change in GDP from 1980 to 1981, dividing this change by the level of GDP in 1980, and then multiplying the result by 100%) Once you've calculated the percentage change for each of the years, use the orange points (square symbol) to plot your results on the following graph, rounded to the nearest percent. For each year, plot the percentage change from the year before. (Hint: For example, you should plot the growth rate from 1980 to 1981 with a horizontal coordinate of 1981.) -0- Annual Change ANNUAL CHANGE IN REAL GOP (Percent - 1981 10 10 1981 1054 11 YEAR On the first graph (showing real GDP), this contraction is seen as a period in This economy experienced a contraction in the years
D- Annual Change 1 ANNUAL CHANGE IN REAL GDP (Percent) -2 -3 -5 1051 1082 1963 1986 1987 1980 1954 1985 YEAR a This economy experienced a contraction in the years which the level of real GOP seen as a period in which the growth rate of real GOP On the first graph (showing real GDP), this contraction is seen as a period in On the second graph (showing annual change in real GDP), this contraction is True or False: This economy was experiencing an expansion in 1988, True False Grade it Now Save & Continue Continue without saving