Refer to the figure below and assume that the values for points a, b, and c (the combined value of consumer goods and capital good are $20 billion, $40 billion, and $30 billion, respectively. The Macroeconomy PPF2 PPF, b 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 сарacity? percent Capital goods

Refer to the figure below and assume that the values for points a, b, and c (the combined value of consumer goods and capital good are $20 billion, $40 billion, and $30 billion, respectively. The Macroeconomy PPF2 PPF, b 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 сарacity? percent Capital goods

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter23: The Aggregate Expenditure Model

Section: Chapter Questions

Problem 1P

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