Suppose the Information in the Following Table Describes the Economic

question 31

Essay

Suppose the information in the following table describes the economic situation in the United States at the end of 2017:
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Real CDP } \\\text { (billions of 2010 } \\\text { dollars) }\end{array} & \begin{array} { c } \text { Potential CDPP } \\\text { (billinns of 2010 } \\\text { dollars) }\end{array} \\\hline 2014 & 13,604.6 & 13,604.6 \\\hline 2 015 & 14,034.2 & 14,034.2 \\\hline 2016 & 14,477.3 & 14,47.3 \\\hline 2 017 & 15,490.7 & 14,911.6 \\\hline \text { (aptinistic farecast) } & & \\\hline 2 017 & 14,043.0 & 14.911 .6 \\\hline \text { (pes5inistic farecast) } & & \\\hline\end{array}$$ (A) Graph real GDP aver time, placing the year an the horzantal azas. Calculate the frowth rate of real GDP between 2016 and 2017 .
(B) What will be the growth rate of real GDp between 2016 and 2017 if the aptinistic forecast af real GDP is cartect?
(C) What wril be the growth rate of real GDP between 2016 and 2017 if the pessinistic forecast af real GDP is carrect?
(D) What is the deviation (in terms of dollars and as a percentage) of real GDP fram potential GDP in 2017 if the optinistic forecast is correct? What is the deviation (in terms of dollars and as apercentage) of real GDP from potential GDP in 2017 if the pessirustic forecast is correct?

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Definitions:

Iliac Crest

The upper, outward-curved edge of the ilium, the largest of the three pelvic bones, serving as an important landmark for lumbar puncture and a site for muscle attachment.

Greater Sciatic Notch

A large, deep notch on the posterior border of the hip bone, through which several nerves and blood vessels pass.

Ischial Spine

A bony projection from the ischium bone of the pelvis, serving as an attachment point for ligaments and muscles of the pelvic region.