Content MindTap - Cengage Learning G The number of Canadians who emign CENGAGE | MINDTAP Aplia Homework: Introduction to Macroeconomics Real GDP Absolute Change Year (Billions of Dollars) ( Billions of Dollars) Percentage Change 1980 380 1981 384 +4 (+4/ 380) x 100% = 1.05% 1982 392 +8 (+8/ 384) x 100% = 2.08% 1983 408 + 16 (+16 / 392) x 100% = 4.08% 1984 412 +4 (+4 / 408) x 100% = 0.98% 1985 404 -8 (-8/ 412) x 100% = -1.94% 1986 400 -4 (-4 / 404) x 100% = -0.99% 1987 404 +4 (+4 / 400) x 100% = 1.00% 1988 420 + 16 (+16 / 404) x 100% = 3.96% Rounding each of these to the nearest percent gives the data points for the graph. Note that because real GDP is, on average, about $400 billion, each $4 billion of change represents approximately one percentage point. This economy experienced a contraction in the years X . On the first graph (showing real GDP), this contraction is seen as a period in which the level of real GDP X . On the second graph (showing annual change in real GDP), this contraction is seen as a period in which the growth rate of real GDP X Points: 0 /1