If real GDP increases from $14.8 trillion one year to $14.9 trillion in the next year, which will be true?
A)the GDP gap has probably become smaller
B)economic growth is below the long-term trend rate
C)economic growth is above the long-term trend rate
D)economic growth is about the same as the long-term trend rate
E)both A and C

Question

Quizplus · Accepted Answer

The increase from $14.8 trillion to $14.9 trillion represents a growth rate of approximately 0.68%, which is typically below the long-term trend rate of economic growth for developed economies, often around 2-3% per year.

If Real GDP Increases from $14