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2) (10 points) During the second quarter of 1956, calculate the GDP gap. To do so, you need data on potential GDP (https://research.stlouisfed.org/fred2/data/GDPPOT.txt) and data

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2) (10 points) During the second quarter of 1956, calculate the GDP gap. To do so, you need data on potential GDP (https://research.stlouisfed.org/fred2/data/GDPPOT.txt) and data on actual GDP (https://research.stlouisfed.org/fred2/data/GDPC1.txt). The GDP gap is calculated by taking the actual value of GDP minus potential GDP divided by potential GDP times 100. Also note the notation for quarters - for example: 2000 - 01 - 01 is the first quarter (Jan., Feb., March) of 2000 where 2000- 10-01 is data for the fourth quarter of 2000 (Oct., Nov., Dec.)

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