Refer to Figure 8.2 and assume that the values for points a, b, and c are $10
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Refer to Figure 8.2 and assume that the values for points a, b, and c are $10 billion, $20 billion, and $18 billion respectively. If the economy moves from point a to point b over a 10-year period, what must have been its annual rate of economic growth? If, instead, the economy was at point c at the end of the 10-year period, by what percentage did it fall short of its production capacity?
Figure 8.2:
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Related Book For
Macroeconomics
ISBN: 9780077337728
19th Edition
Authors: Campbell Mcconnell, Stanley Brue, Sean Flynn, Flynn Mcconnell Brue
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