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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 14
After you have studied Reading Between the Lines on pp. 96-97, answer the following questions.
a. Why does the BEA revise its estimates of GDP?
b. What is the percentage difference between the highest and lowest estimate of real GDP in the second quarter of 2009 trough
c. Describe the changes in the estimates of the peak, trough, recession, and recovery over the most recent business cycle.
d. Why does the growth rate of consumption expenditure have a bigger effect on real GDP growth than the growth rates of investment and net exports
a. Why does the BEA revise its estimates of GDP?
b. What is the percentage difference between the highest and lowest estimate of real GDP in the second quarter of 2009 trough
c. Describe the changes in the estimates of the peak, trough, recession, and recovery over the most recent business cycle.
d. Why does the growth rate of consumption expenditure have a bigger effect on real GDP growth than the growth rates of investment and net exports
Explanation
Verified
Verified
a) GDP is the gross domestic product. Th...
Macroeconomics 11th Edition by Michael Parkin
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