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The Following Table Shows Real GDP and Potential Real GDP

Question 57

Multiple Choice

The following table shows real GDP and potential real GDP for the years 2000-2012. Refer to this table when answering
Table 10.1 ($ billions)
(Source: Federal Reserve Economic Data, St. Louis Federal Reserve)
 Potential  GDP  Real GDP 200010,909.711,216.4200111,304.511,337.5200211,674.311,543.1200312,003.611,836.4200412,290.012,246.9200512,569.212,623.0200612,864.612,958.5200713,177.713,206.4200813,485.013,161.9200913,745.412,758.0201013,950.313,063.0201114,166.613,299.1201214,411.013,593.2\begin{array} { c c c } \hline & \begin{array} { c } \text { Potential } \\\text { GDP }\end{array} & \text { Real GDP } \\\hline 2000 & 10,909.7 & 11,216.4 \\2001 & 11,304.5 & 11,337.5 \\2002 & 11,674.3 & 11,543.1 \\2003 & 12,003.6 & 11,836.4 \\2004 & 12,290.0 & 12,246.9 \\2005 & 12,569.2 & 12,623.0 \\2006 & 12,864.6 & 12,958.5 \\2007 & 13,177.7 & 13,206.4 \\2008 & 13,485.0 & 13,161.9 \\2009 & 13,745.4 & 12,758.0 \\2010 & 13,950.3 & 13,063.0 \\2011 & 14,166.6 & 13,299.1 \\2012 & 14,411.0 & 13,593.2 \\\hline\end{array}
-According to the data in Table 10.1, during which year was the economy in an expansion?


A) 2001
B) 2004
C) 2002
D) 2003
E) 2011

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