Look at the following chart summarizing NGDP and RGDP for the U.S. in billions of dollars. Year
Question:
Look at the following chart summarizing NGDP and RGDP for the U.S. in billions of dollars.
Year | NGDP | RGDP |
2000 | 10,284.8 | 12,559.7 |
2001 | 10,621.8 | 12,682.2 |
2002 | 10,977.5 | 12,908.8 |
2003 | 11,510.7 | 13,271.1 |
2004 | 12,274.9 | 13,773.5 |
2005 | 13,093.7 | 14,234.2 |
2006 | 13,855.9 | 14,613.8 |
2007 | 14,477.6 | 14,873.7 |
2008 | 14,718.6 | 14,830.4 |
2009 | 14,418.7 | 14,418.7 |
2010 | 14,964.4 | 14,783.8 |
2011 | 15,517.9 | 15,020.6 |
2012 | 16,155.3 | 15,354.6 |
2013 | 16,663.2 | 15,583.3 |
2014 | 17,348.1 | 15,961.7 |
2015 | 17,942.9 | 16,345.0 |
Source: Bureau of Economic Analysis
Calculate the annual growth rate of NGDP and RGDP in 2005.
Calculate the annual growth rate of NGDP and RGDP in 2015.
The annual growth rate of NGDP in 2015 was ______ than in 2005, and the annual growth rate of RGDP in 2015 was ______ than in 2005.
Group of answer choices
larger; larger
smaller; smaller
larger; smaller
smaller; larger
Statistical Techniques in Business and Economics
ISBN: 978-1259666360
17th edition
Authors: Douglas A. Lind, William G Marchal