Calculate rate at which gnp was falling from 1929 to 1931

Reference no: EM131136276

It is sometimes said that the Great Depression would have been a severe recession if it had stopped in 1931 but would not have been the calamity it was.

a. From Table 19-1 calculate the rate at which GNP was falling from 1929 to 1931.

b. How does that rate compare with the rate at which real GDP fell during the 1990-1991 recession?

c. Do you agree with the first sentence in this question? Explain.

Reference no: EM131136276

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