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)
-About how much did short-run output equal in 2009 and 2015, respectively?
A) -6.4 percent; -2.0 percent
B) 6.9 percent; 2.1 percent
C) 93.6 percent; 98.0 percent
D) 106.9 percent; 102.1 percent
E) Not enough information is given.

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)
-About how much did short-run output equal in 2009 and 2015, respectively?
A) -6.4 percent; -2.0 percent 
B) 6.9 percent; 2.1 percent 
C) 93.6 percent; 98.0 percent 
D) 106.9 percent; 102.1 percent 
E) Not enough information is given.

Quizplus · Accepted Answer

In 2009, short-run output was 6.4 percent below potential output, and in 2015, it was 2.0 percent below potential output.

The Following Table Shows Real GDP and Potential Real GDP