Go to the Web site of the Federal Reserve Bank of St. Louis (FRED) (research.stlouisfed.org/fred2/). a. Find
Question:
a. Find the values for the most recent quarter for the following three variables: (1) Nominal Gross Domestic Product (GDP), (2) Real Gross Domestic Product (GDPC1), and (3) Real Potential Gross Domestic Product (GDPPOT).
b. Using the data from part (a), calculate the GDP Price Deflator for the most recent quarter.
c. Calculate for this quarter the percentage difference between real GDP and potential GDP.
d. Using Figure 21.2 on page 704, describe the relationship between real GDP and potential GDP over the past 10 years.
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a In the second quarter of 2015 nominal GDP equaled 179137 billion real GDP equa...View the full answer
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