Question 29 1 pts Consider the following data that identifies real gross domesti

Question

Question 29 1 pts Consider the following data that identifies real gross domestic product (GDP) in comparison to the long- run trend of real GDP to Quarter answer the following questions Real GDP (billions of dollars) 4,000 4,160 4,326 4,413 4,501 4,591 4,499 4,409 4,673 4,954 5,252 5,376 Long-Run Trend of Real GDP (billions of dollars) 4,000 4,120 4,244 4,371 4,502 4,637 4,776 4,919 5,067 5,219 5,376 5,537 10 12 Between quarter 7 and quarter 8, real gross domestic product (GDP) grew by what percentage? O -2 percent C 3 percent C 1 percent 6 percent 2 percent Question 30 1 pts

Explanation / Answer

GDP in quarter 7 =$4499 Billion

GDP in quarter 8 =$4409 Billion

Growth rate of GDP in these two quarters= 4409-4499/4499*100

= -2 percent

option a

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