Question: 8. Problems and Applications Q8 Consider the following data on U.S. GDP: GDP Year (Billions of current dollars) ( Billions of 2012 dollars) 2014 17,521,7

8. Problems and Applications Q8 Consider the following data on U.S. GDP: GDP Year (Billions of current dollars) ( Billions of 2012 dollars) 2014 17,521,7 16,899.8 2015 18,219.3 17,386.7 2016 18,707.2 17,659,2 2017 19,485.4 18.050.7 2018 20,494.1 18.566.4 Source: "National Economic Accounts. U.S. Bureau of Erabarbie Innewsis The percentage change in nominal GDP from 2016 to 2017 was The percentage change in real GDP from 2017 to 2018 was True or False: The percentage change in real GDP from 2017 to 2018 was higher than the percentage change In real GDP from 2016 to 2017. True All False

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