Thursday
July 24, 2014

Homework Help: Macro

Posted by steve on Wednesday, March 18, 2009 at 10:11pm.

The great depression was the worst ecomonic disaster in US history in terms of declines in real GDP and increases in the unemployment rate. Use the data in the following table to calculate the percentage decline in real GDP between 1929 and 1933

Year Nominal GDP GDP price deflator
1929 103.6 11.9
1933 56.4 8.9

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