Solution Found!
Several indicators of long-term economic growth in the
Chapter 3, Problem 21E(choose chapter or problem)
Several indicators of long-term economic growth in the United States are listed below.
Economic Indicator |
Percent Change |
Economic Indicator |
Percent Change |
Inflation |
4.5% |
Real GNP |
2.9% |
Exports |
4.7 |
Investment (residential) |
3.6 |
Imports |
2.3 |
Investment (nonresidential) |
2.1 |
Real disposable income |
2.9 |
Productivity (total) |
1.4 |
Consumption |
2.7 |
Productivity (manufacturing) |
5.2 |
a. What is the median percent change?
b. What is the modal percent change?
Questions & Answers
QUESTION:
Several indicators of long-term economic growth in the United States are listed below.
Economic Indicator |
Percent Change |
Economic Indicator |
Percent Change |
Inflation |
4.5% |
Real GNP |
2.9% |
Exports |
4.7 |
Investment (residential) |
3.6 |
Imports |
2.3 |
Investment (nonresidential) |
2.1 |
Real disposable income |
2.9 |
Productivity (total) |
1.4 |
Consumption |
2.7 |
Productivity (manufacturing) |
5.2 |
a. What is the median percent change?
b. What is the modal percent change?
ANSWER:Step 1 of 3
Given the long -term economic growth in the United states are listed below.
Economic indicator |
Percent change |
Inflation |
4.5 |
Exports |
4.7 |
Imports |
2.3 |
Real disposable income |
2.9 |
Consumption |
2.7 |
Real GNP |
2.9 |
Investment (residential) |
3.6 |
Investment (nonresidential) |
2.1 |
Productivity (total) |
1.4 |
Productivity (manufacturing) |
5.2 |