The following table shows real GDP and potential real GDP for the years 2005-2015. Refer to this table when answering the following questions.
Table 10.1 ($ billions) (Source: Federal Reserve Economic Data, St. Louis Federal Reserve)
-During which year was the economy in an expansionary gap?
A) 2001
B) 2004
C) 2002
D) 2003
E) none of the above

Question

The following table shows real GDP and potential real GDP for the years 2005-2015. Refer to this table when answering the following questions.
Table 10.1 ($ billions)  (Source: Federal Reserve Economic Data, St. Louis Federal Reserve)
-During which year was the economy in an expansionary gap?
A) 2001 
B) 2004 
C) 2002 
D) 2003 
E) none of the above

Quizplus · Accepted Answer

The Answer of The following table shows real GDP and potential real GDP for the years 2005-2015. Refer to this table when answering the following questions.
Table 10.1 ($ billions)  (Source: Federal Reserve Economic Data, St. Louis Federal Reserve)
-During which year was the economy in an expansionary gap?
A) 2001 
B) 2004 
C) 2002 
D) 2003 
E) none of the above

The Following Table Shows Real GDP and Potential Real GDP