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1) Suppose that the annual rates of growth of real GDP of Schnurland over a five-year period were sequentially as follows: 4 percent, -3 percent,
1) Suppose that the annual rates of growth of real GDP of Schnurland over a five-year period were sequentially as follows: 4 percent, -3 percent, 2 percent, 3 percent, and 6 percent.
A) What was the average of these growth rates in Schnurland over these 5 years (to one decimal place)?
B) What term would economists use to describe what happened in year 2?
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