Refer to Figure 10.2 for the Following Questions

question 75

Multiple Choice

Refer to Figure 10.2 for the following questions.
Figure 10.2

-Refer to Figure 10.2. Given the economy is at point A in year 1, what is the difference between the actual growth rate in GDP in year 2 and the potential growth rate in GDP in year 2?

• A)0.3%
• B)1.1%
• C)2.7%
• D)3.7%

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Definitions:

Standard Deviation

An indicator calculating the spread of data around the mean, achieved by the square root of the variance.

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by the count of the numbers in the set.

Unimodal

Describing a distribution with a single prominent peak or mode, indicating the most commonly occurring value.

Median

The middle value in a sorted list of numbers, which separates the higher half from the lower half of the dataset.