Question
1. Go to BEA.gov and in the U.S. Economic Accounts find Table 1.1.5 (nominal GDP) and Table 1.1.6 (real GDP) and download them for the
1. Go to BEA.gov and in the U.S. Economic Accounts find Table 1.1.5 (nominal GDP) and Table 1.1.6 (real GDP) and download them for the period 1960 to the latest available year in annual frequency (yearly).
https://apps.bea.gov/iTable/?reqid=19&step=2&isuri=1&categories=survey#eyJhcHBpZCI6MTksInN0ZXBzIjpbMSwyLDMsM10sImRhdGEiOltbImNhdGVnb3JpZXMiLCJTdXJ2ZXkiXSxbIk5JUEFfVGFibGVfTGlzdCIsIjYiXSxbIkZpcnN0X1llYXIiLCIxOTYwIl0sWyJMYXN0X1llYXIiLCIyMDIzIl0sWyJTY2FsZSIsIi05Il0sWyJTZXJpZXMiLCJBIl1dfQ==
https://apps.bea.gov/iTable/?reqid=19&step=2&isuri=1&categories=survey#eyJhcHBpZCI6MTksInN0ZXBzIjpbMSwyLDMsM10sImRhdGEiOltbImNhdGVnb3JpZXMiLCJTdXJ2ZXkiXSxbIk5JUEFfVGFibGVfTGlzdCIsIjUiXSxbIkZpcnN0X1llYXIiLCIxOTYwIl0sWyJMYXN0X1llYXIiLCIyMDIzIl0sWyJTY2FsZSIsIi05Il0sWyJTZXJpZXMiLCJBIl1dfQ==
2. In Excel plot line 1 of both tables within a single graph. Where do they cross? Explain what is the relationship between real and nominal GDP before and after the crossing point? Why?
Please explain how to create the graph
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Environmental Economics
Authors: Barry Field, Martha K Field
5th Edition
0073375764, 9780073375762
