Calculate the year-to-year growth rates of real GDP

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Given below are data on real GDP and potential GDP for the United States for the years 2003–2013, in billions of 2009 dollars. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP.

Reference no: EM13898600

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