Largest gdp decline in a postwar u.s. recession

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Reference no: EM1315505

Q. Economy Shrank Last Quarter

WASHINGTON-Signaling Illustrate what could be the start of a prolonged recession, the government said Thursday which the U.S. economy shrank in the July-September quarter as consumers slashed spending also businesses pulled back. The Commerce Division said gross domestic product, the broadest measure of goods also services produced in the USA, fell at a 0.3percent (%) annual rate in the third quarter. Consumer spending, two-thirds of economic activity, plummeted at a 3.1percent (%) rate-the steepest fall since 1980. The overall decline was the worst since the 2001 recession.

-Sue Kirchhoff

(a) By Illustrate what percent did GDP decline?

(b) Elucidate how much output was lost in the $14 trillion economy?

(d) Illustrate what was the largest GDP decline in a postwar U.S. recession?

Reference no: EM1315505

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