Discuss:

1. Is there a general trend in the evolution of real GDP per capita?
2. How does real GDP per capita change during an economic recession, indicated by the grey areas in the graph?

Data: The below data shows real GDP of the United State of America. FRED - (Real Gross Domestic Product*1000000)/Total Population: All Ages including Armed Forces Overseas 60,000 50,000 40,000 (Bil. of Chn. 2012 $*1000000)/Thous. 30,000 20,000 10,000 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 U.S. recessions are shaded; the most recent end date is undecided. Sources: U.S. Bureau of Economic Analysis; U.S. Census Bureau fred.stlouisfed.org Figure 1: Total and Per Capita Real Gross Domestic Product https://fred.stlouisfed.org/graph/?g=BTiz