Table 5-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.

-Refer to Table 5-3. If prices had remained constant between 1929 and 1930, GDP would have decreased

Question

Table 5-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.
 
-Refer to Table 5-3. If prices had remained constant between 1929 and 1930, GDP would have decreased

Quizplus · Accepted Answer

GDP would have decreased by 8.62% if prices had remained constant between 1929 and 1930. This is because the decrease in real GDP was 8.62% from 1929 to 1930.

Table 5-4 the Table Below Reports Nominal and Real GDP for the for the U.S