Describe what RGDP does between 2019 and 2021. What was the highest value in 2019 (peak) and what was the lowest value (trough) and when? How much did RGDP fall between these two points in time? How long did it take the economy to return to the peak value in 2019
Describe what RGDP does between 2019 and 2021. What was the highest value in 2019 (peak) and what was the lowest value (trough) and when? How much did RGDP fall between these two points in time? How long did it take the economy to return to the peak value in 2019
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
- Describe what RGDP does between 2019 and 2021.
- What was the highest value in 2019 (peak) and what was the lowest value (trough) and when? How much did RGDP fall between these two points in time?
- How long did it take the economy to return to the peak value in 2019?

Transcribed Image Text:Observation:
Units:
Frequency:
1Y I 5Y | 10Y| Max
2021-10-01
EDIT GRAPH
Billions of Chained 2012 Dollars,
Seasonally Adjusted Annual Rate
Q4 2021: 19,805.962 (+ more)
Quarterly
2019-01-01
to
Updated: Jan 27, 2022
FRED – Real Gross Domestic Product
20,000
19,600
19,200
18,800
18,400
18.000
17,600
17,200
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
1950
1960
1970
Shaded areas indicate U.S. recessions.
Source: U.S. Bureau of Economic Analysis
fred.stlouisfed.org
Billions of Chained 2012 Dollars
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