Compute 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 year 1999-2007, in billions of 2000 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. Can you identify the recession that occurred during this period?

Reference no: EM1364371

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