Consider the Following Data That Identifies Real Gross Domestic Product

question 13

Multiple Choice

Consider the following data that identifies real gross domestic product GDP) in comparison to the long-run trend of real GDP to answer the next questions: $$\begin{array} { l l l } \hline \text { Quarter } & \begin{array} { l } \text { Real GDP } \\\text { (billions of dollars) }\end{array} & \begin{array} { l } \text { Long-Run Trend of Real } \\\text { GDP (billions of dollars) }\end{array} \\\hline 1 & 4,000 & 4,000 \\2 & 4,160 & 4,120 \\3 & 4,326 & 4,244 \\4 & 4,413 & 4,371 \\5 & 4,501 & 4,502 \\6 & 4,591 & 4,637 \\7 & 4,499 & 4,776 \\8 & 4,409 & 4,919 \\9 & 4,673 & 5,067 \\10 & 4,954 & 5,219 \\11 & 5,252 & 5,376 \\12 & 5,376 & 5,537 \\\hline\end{array}$$
-Between quarter 7 and quarter 8, real gross domestic product GDP) grew by what percentage?

• A) -2 percent
• B) 3 percent
• C) 1 percent
• D)6 percent
• E) 2 percent

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