C I G NX Price Yr1 1000 156 560 52 4 Yr2 1300 159 600 52 5 Yr3 2000 169 690 53 6 Yr4 2900 180 880 53 7 -What will the percent rate of change in real GDP be from year 1 to year 2, from year 2 to year 3, and from year 3 to year 4. (round to the whole number for all calculations and final answers) -State how long it will take for real GDP to double in size.

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 2CQ
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                                         C                      I                         G                               NX              Price 

                                                           

Yr1                               1000                   156                     560                           52                    4

 

Yr2                                1300                  159                     600                           52                    5

 

Yr3                                 2000                  169                    690                           53                   6

 

Yr4                               2900                   180                     880                           53                    7

 

-What will the percent rate of change in real GDP be from year 1 to year 2, from year 2 to year 3, and from year 3 to year 4. (round to the whole number for all calculations and final answers)

-State how long it will take for real GDP to double in size.

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