This shows log GDP per capita for the UK. Which of the following statements are correct? Select one or more: a. The graph shows that in 1950 UK GDP per capita was about £8.75. b. The trend growth rate over the period was 0.9889% per annum.
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This shows log GDP per capita for the UK. Which of the following statements are correct?
The graph shows that in 1950 UK GDP per capita was about £8.75.
The trend growth rate over the period was 0.9889% per annum.
When actual output is below trend output the economy is in recession.
The trend growth rate over the period was 2.14 % per annum.
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