Question: following table. What was the approximate output gap in 1997? Year Real GDP (trillions of $) Potential GDP (trillions of $) 1995 3.20 3.30 1996

following table. What was the approximate output gap in 1997? Year Real GDP (trillions of $) Potential GDP (trillions of $) 1995 3.20 3.30 1996 3.45 3.65 1997 3.75 3.89 1998 4.05 4.10 1999 4.38 4.30 a) 3.6% b) 1.2% c) 1.9% d) 3%

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