Consider the aggregate economy for the United States in 1974 and 1975, represented by the graph...
Consider the aggregate economy for the United States in 1974 and 1975, represented by the graph below. What is the rate of price inflation, if any? Provide your answer as a percent rounded to two decimal places. Use a negative sign "-" for negative changes. Do not include any symbols, such as "$," "=," "%," or "," in your answer. Your Answer: Question 10 options:
Homework Answers
Answer:
Explanation:
Real GDP in 1974 = $5.39 million
Real GDP in 1975 = $5.38 million
Growth rate in Real GDP = { ($5.38-$5.39) / $5.39 } * 100
= -0.185%
= -0.19%
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