Given below are data on real GDP and potential GDP for the nation of Anaziland f

Question

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 Real GDP Potential Output gap ype of gap Growth rate of real GDFP ear 009 010 2011 12,910 13,590 14,050 GDP 13,280 13,000 13,160 (Click to select) (Click to select) v (Click to select) v 0 0 2012 13,600 13,800 % | (Click to select) 2013 13,680 14,200 (Click to select) 0. A Recessionary gap is identified during O 2010 -2011 O 2009; 2012 - 2013 O 2011 -2012 O 2009 - 2010; 2013

Explanation / Answer

Option 2

Year

Real GDP

Potential GDP

Output GAP

Type of GAP

Growth rate of real GDP

2009

12910

13280

-370

Recessionary

2010

13590

13000

590

Inflationary

5.27%

2011

14050

13160

890

Inflationary

3.38%

2012

13600

13800

-200

Recessionary

-3.20%

2013

13680

14200

-520

Recessionary

0.59%

Year

Real GDP

Potential GDP

Output GAP

Type of GAP

Growth rate of real GDP

2009

12910

13280

-370

Recessionary

2010

13590

13000

590

Inflationary

5.27%

2011

14050

13160

890

Inflationary

3.38%

2012

13600

13800

-200

Recessionary

-3.20%

2013

13680

14200

-520

Recessionary

0.59%

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