Consider the aggregate economy for the United States in 1929 and 1930, represented by the graph below. What is the rate of growth in real GDP, if any? Provide your answer as a percent rounded to two...

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Consider the aggregate economy for the United States in 1929 and 1930, represented by the graph below. What is the rate of gr

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Answer 1

Answer #1

-3.96

Explanation:
Real GDP in 1929, RGDP1 = 1005.6
Real GDP in 1930, RGDP1 = 965.8

Rate of growth in real GDP = [(RGDP2-RGDP1)/RGDP1]*100 = [(965.8 - 1005.6)/1005.6]*100 = (-39.8/1005.6)*100 = -3.96%

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Answer 2

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Add Answer to: Consider the aggregate economy for the United States in 1929 and 1930, represented by the graph below. What is the rate of growth in real GDP, if any? Provide your answer as a percent rounded to two...

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Consider the aggregate economy for the United States in 1929 and 1930, represented by the graph below. What is the rate of growth in real GDP, if any? Provide your answer as a percent rounded to two...