Refer to the figure below and assume that the values for points a, b, and c (the combined value of consumer goods and capital goods) are $10 billion, $20 billion, and $15 billion, respectively. The Macroeconomy PPF PPF, Consumer goods Instructions: Enter your answers as a whole number. a. If the economy moves from point a to point b over a 5-year period, what must have been its annual rate of economic growth? percent b. If, instead, the economy was at point cat the end of the 5-year period, by what percentage did it fall short of its production сараcity? percent

Refer to the figure below and assume that the values for points a, b, and c (the combined value of consumer goods and capital goods) are $10 billion, $20 billion, and $15 billion, respectively. The Macroeconomy PPF PPF, Consumer goods Instructions: Enter your answers as a whole number. a. If the economy moves from point a to point b over a 5-year period, what must have been its annual rate of economic growth? percent b. If, instead, the economy was at point cat the end of the 5-year period, by what percentage did it fall short of its production сараcity? percent

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 9WNG

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