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Values for nominal gdp and real gdp

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Reference no: EM131040204

The following values for nominal GDP and real GDP are reported for the U.S. from 1929 to 1932:

1929: Nominal GDP = 103.6; Real GDP 9771930: Nominal GDP = 91.2; Real GDP 892.8
1931: Nominal GDP = 76.5; Real GDP 834.9
1932: Nominal GDP = 58.7; Real GDP 725.8

If prices had remained constant between 1929 and 1930, GDP would have decreased

  • 8.62%
  • 9.43%
  • 11.97%
  • 13.6%

Reference no: EM131040204

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