Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue

Exercise 1

U.S. ECONOMIC GROWTH-WHAT ARE THE LATEST RATES Go to the Bureau of Economic Analysis Web site, www.bea.gov , and use the data interactivity feature to find National Income and Product Account Table 1.1. What are the quarterly growth rates (annualized) for the U.S. economy for the last six quarters Is the average of those rates above or below the long-run U.S. annual growth rate of 3.5 percent Expand the range of years, if necessary, to find the last time real GDP declined in two or more successive quarters. What were those quarters