D Question 17 Consider the data shown in the table. Assume that the economy produces only textbooks. Textbooks Actual Sold Price Last year 5,000 $50 This year 5,250 $55 T/F: According to the calculations in Stevenson/Wolfers, real GDP for this year is $262,500. True O False Question 18 According to the rule of 70, if GDP per person is growing at a rate of roughly 3.5%, it will take 20 years (rounded to the nearest year) for average in True O False D Question 19 Often macro statistics deal with large numbers. T/F: "One thousand three hundred and forty-five millions equal $1.345 trillion." O True O False D Question 20 In 2007, the United States recorded real GDP growth of approximately -2.6% and nominal GDP growth of -1.8%. T/F: Prices fell during the year. D True O False