Given below is the the real gdp and potential gdp for the fictitious country "alpha."

a. use the date to determine the the year-to-year growth rates of real gdp, the output gap as a percentage of potential gdp and state whether the gap is a recessionary gap or an expansionary gap.

instructions: enter your responses as a percentage rounded to two decimal places. if you are entering any negative numbers be sure to include a negative sign in front of those numbers.

year real gdp potential gdp real gdp growth output gap type of gap
2005 $17,500 $17,300 % (click to select) recessionary expansionary
2006 $18,200 $17,800 % % (click to select) recessionary expansionary
2007 $18,500 $18,300 % % (click to select) expansionary recessionary
2008 $18,400 $18,800 % % (click to select) recessionary expansionary
2009 $18,200 $19,300 % % (click to select) expansionary recessionary
2010 $18,600 $19,700 % % (click to select) expansionary recessionary
2011 $19,200 $20,100 % % (click to select) recessionary expansionary
2012 $19,900 $20,500 % % (click to select) expansionary recessionary
b. use the data above to graph alpha's real gdp between 2005 and 2012.

instructions: use the tool 'real gdp' to graph the 8 real gdp values from year 2005 until 2012.

c. alpha experienced a peak in the business cycle in the following year(s):

2005 and 2012

2005

2012

2007

2007 and 2012

d. alpha experienced a trough in the business cycle in the following year(s):

2009 and 2012

2007

2010

2009

2005 and 2010