If Real GDP Grows by 3% in 2009,3

question 108

Multiple Choice

If real GDP grows by 3% in 2009,3.2% in 2010,and 2.5% in 2011,what is the average annual growth rate of real GDP?

• A) 2.6%
• B) 2.9%
• C) 3.1%
• D) 4.2%

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Definitions:

Slope

In mathematics, the rate of change or gradient of a line, indicating its steepness and direction.

Population Regression Line

The line that best describes the relationship between an independent variable and a dependent variable for the entire population.

Population Coefficient

A parameter that quantifies a certain characteristic or attribute of a population.

Correlation

A statistical measurement of the relationship between two variables, indicating how one may predict the other.