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The table below reports quarterly GDP and real GDP data for the United States during the Great Recession, which lasted from the end of 2007
The table below reports quarterly GDP and real GDP data for the United States during the Great Recession, which lasted from the end of 2007 to mid-2009.
Period | Nominal GDP (in bilions) | Real GDP (in billions) |
2007 Q4 | $14,681.5 | $15,762.0 |
2008 Q1 | $14,651.0 | $15,671.4 |
2008 Q2 | $14,805.6 | $15,752.3 |
2008 Q3 | $14,835.2 | $15,667.0 |
2008 Q4 | $14,559.5 | $15,328.0 |
2009 Q1 | $14,394.5 | $15,155.9 |
2009 Q2 | $14,352.9 | $15,134.1 |
a) From 2007 Q4 through 2009 Q2, real GDP grew by % (give your answer to two decimal places). b) Over the same period, price level grew by % (give your answer to two decimal places).
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