Consider the following data for a hypothetical economy:
The economy's real GDP has declined between years:
A) 1 and 2.
B) 2 and 3.
C) 3 and 4.
D) 4 and 5.

Question

Consider the following data for a hypothetical economy: 
The economy's real GDP has declined between years:
A) 1 and 2. 
B) 2 and 3. 
C) 3 and 4. 
D) 4 and 5.

Quizplus · Accepted Answer

Between year 3 and year 4, the economy's real GDP declined from $460 billion to $420 billion, a decrease of 8.7%. Between all other years, the real GDP increased, so choices A, B, and D are incorrect.

Consider the Following Data for a Hypothetical Economy