Table 14-1 -Refer to Table 14-1.Using the Table Above,what Is the Approximate

question 22

Multiple Choice

Table 14-1

-Refer to Table 14-1.Using the table above,what is the approximate growth rate of real GDP from 2010 to 2011?

• A)1%
• B)2%
• C)3%
• D)4%

---

Definitions:

Depression

An economic depression is a prolonged period of significant decline in economic activity across a region or country, characterized by high unemployment, low consumer spending, and a decrease in industrial production.

National Output

The total value of all goods and services produced within a country's borders in a given time period.

Stagflation

A period of slow economic growth combined with high unemployment and rising prices (inflation).

Minor Recessions

Brief periods of economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in successive quarters.