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Use the table to answer the following questions. Year Real GDP (Billions of 2000 Dollars) 1993 $7,113 1994 7,101 1995 7,337 1996 7,533 1997 7,836 i....

3. Use the table to answer the following questions.
Year Real GDP (Billions of 2000 Dollars)
1993 $7,113
1994 7,101
1995 7,337
1996 7,533
1997 7,836

i. Calculate the growth rate of real GDP for each year from 1994 to 1997.







ii. Calculate the average annual growth rate of real GDP for the period from 1994 to 1997.




iii. How does the average annual growth rate you calculated in (ii) above compare to the average growth rate the U.S. normally expects?



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Economics-8214216.doc

Use the table to answer the following questions.
Year Real GDP (Billions of 2000 Dollars)
1993 $7,113
1994 7,101
1995 7,337
1996 7,533
1997 7,836
i. Calculate the growth rate of real GDP for each...

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