Refer to the figure below and assume that the corresponding GDP points a, b, and care...

   

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Refer to the figure below and assume that the corresponding GDP points a, b, and care $20 billion, $40 billion, and $32 billion respectively. Capital Goods PPF ₂ PPF, The Macroeconomy U b Consumer Goods (85, 15) Instructions: Round your answers below to whole numbers. If the economy moves from point a to point bover a 7-year period, what must have been its annual rate of economic growth? Rate of growth = If, instead, the economy was at point c at the end of the 7-year period, by what percentage did it fall short of its production capacity? % Refer to the figure below and assume that the corresponding GDP points a, b, and care $20 billion, $40 billion, and $32 billion respectively. Capital Goods PPF ₂ PPF, The Macroeconomy U b Consumer Goods (85, 15) Instructions: Round your answers below to whole numbers. If the economy moves from point a to point bover a 7-year period, what must have been its annual rate of economic growth? Rate of growth = If, instead, the economy was at point c at the end of the 7-year period, by what percentage did it fall short of its production capacity? %

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